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e. Basis (or cost basis ), as used in United States tax law, is the original cost of property, adjusted for factors such as depreciation. When a property is sold, the taxpayer pays/ (saves) taxes on a capital gain / (loss) that equals the amount realized on the sale minus the sold property's basis. Cost basis is needed because tax is due based ...
Value of life. The value of life is an economic value used to quantify the benefit of avoiding a fatality. [1] It is also referred to as the cost of life, value of preventing a fatality ( VPF ), implied cost of averting a fatality ( ICAF ), and value of a statistical life ( VSL ). In social and political sciences, it is the marginal cost of ...
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal ...
A life insurance premium is the rate you pay for life insurance coverage. Life insurance premiums are determined using factors such as age, health, policy type and coverage limits. Insurers use ...
In the insurance industry, "replacement cost" or " replacement cost value " is one of several methods of determining the value of an insured item. Replacement cost is the actual cost to replace an item or structure at its pre-loss condition. This may not be the "market value" of the item, and is typically distinguished from the "actual cash ...
Whole life insurance, or whole of life assurance (in the Commonwealth of Nations ), sometimes called "straight life" or "ordinary life", is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. [1] As a life insurance policy it represents a ...
Range of Monthly Premiums Based on Age, Gender & Policy Term Age Gender Term Monthly Premiums 35 Female 30 Years $40 to $82 45 Male 15 $65 to $125 55 Female 20 $158 to $288 65 Male 10 $358 to $659 ...
Variable universal life is a type of permanent life insurance, because the death benefit will be paid if the insured dies at any time as long as there is sufficient cash value to pay the costs of insurance in the policy. With most if not all VULs, unlike whole life, there is no endowment age (the age at which the cash value equals the death ...
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