When We Die….

Today I was digging for some info on ‘variable life policy’ and came across the following paragraph:

Although with variable life, premium payments are held in separate accounts, and the policy owner chooses how the cash value will be invested…. Within limits, the policy owner determines the amount and frequency of his or her premium payments and is permitted to adjust the policy face amount up or d … Variable life insurance is similar to universal life in that there is flexibility in connection with premium payments and death benefits….Cash Value insurance policies provide a basic death benefit, but they also have a savings feature that you can withdraw from or borrow against. … Universal Life, Whole Life, and Variable Life are each different types of cash value insurance….

What do you think of that?

On Flag Day, Honor our Flag!

As the holiday created to pay homage to our national icon arrives, its time to review the responsibilities attached to displaying the national emblem. June 14 is Flag Day. This day celebrates the 1777 adoption of the official U.S. flag. Many people and businesses display the flag as a gesture of respect, patriotism, devotion and community spirit. All admirable attributes to be sure. To be sure your display is within guidelines, here are a few helpful excerpts from the Flag Code, United States

W00t, not exactly what I was looking for, but a good read nevertheless.

A Taxing Situation for Life Settlement Owners

And any amount a policy holder receives over and above the cash surrender value of the policy is subject to capital gains tax. … Opulen Capital is one of the leading firms offering Life Settlement opportunities for high net worth clientele…. … but the payout could be more in the range of $500,000 minus those taxes, which would give the policy holder a much higher tax, but also a much higher net payout. … Still, any amount a policy holder would receive on amounts over the adjusted cost basis and to the cash surrender value will be taxed at ordinary tax rates….

I tried several more searches on ‘net cash surrender value’ but after some time I got lazy, gave up and posted this entry to ‘Life Insurance’. Still, I think it was an interesting exercise.