Tax Benefits Of Life Insurance

Definition of "Tax benefits of life insurance"

John Collinge real estate agent

Written by

John Collingeelite badge icon

Remax Dynamic Properties

Tax advantages of investing in life insurance fall into two main areas: tax deferral on untaxed buildup of earnings in such cash value policies as whole life insurance and annuities, and exclusion from federal income tax of the proceeds of a death benefit of an insurance policy.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Proceeds from a life insurance policy paid on a monthly basis instead of in a lump sum. ...

clause found in health insurance contracts that requires the insured to pay a specified percentage of the covered health care expenses. ...

Losses representing claims not paid. ...

Coverage for small groups that cannot meet the underwriting standards of true group insurance. Even though the franchise insurance covers an entire group, individual policies are written on ...

Designation earned by passing 10 national examinations on subjects including mathematics of property and casualty insurance, actuarial science, insurance, accounting, and finance. ...

Coverage that provides for replacement of damaged or destroyed property on a new replacement cost basis without any deduction for depreciation. This is equivalent to replacement cost ...

Expenses taken out when benefits are paid. For example, a specific dollar amount is subtracted from a monthly income payment for company expenses. ...

Liability and physical damage coverage for trailers under business or personal auto policies. Most automobile insurance policies offer liability coverage for common types of trailers owned ...

Investment income. Insurance companies invest part of their premiums that are not immediately needed for claims and administrative expenses. These earnings are critical to an insurance ...

Popular Insurance Questions