Section 2503 (c) Of The Internal Revenue Code
Definition of "Section 2503 (c) of the internal revenue code"
Section of the code that qualifies the establishment of a trust for minors under which income can be accumulated until the minor reaches age 21. At that point, the accumulated income can be disbursed and the $10,000 annual gift tax exclusion for each beneficiary can be utilized.
Popular Insurance Terms
Eligible rollover distribution that is paid directly from an employee's employee benefit insurance plan to the employee's individual retirement account (IRA) or to another plan maintained ...
Insurance coverage purchased on the same item from two or more insurance companies. ...
Same as term Unallocated Funding Instrument: pension funding agreement under which funds paid into a retirement plan are not currently allocated to purchase retirement benefits. The funds ...
Method of investing that staggers the maturities of a group of bonds. As a bond matures, the investor can reinvest the proceeds in either short- or long-term bonds depending on the interest ...
Rate applied when two or more separate buildings are insured under one policy, and/or when two or more separate contents are insured under one policy. ...
Portion of a life insurance policy cash value after the deduction of all the policyowner's indebtedness. ...
Physical handing of an insurance policy to the insured. Sales training emphasizes the importance of delivery of a policy by the agent. This develops a caring attitude on the part of the ...
Conducting of maritime suits involving ocean marine insurance policy claims before an admiralty court. ...
Type of excess of loss reinsurance in which the insurance company (cedent) cedes its known loss revenues to its reinsurer. ...
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