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Life insurance is meant to provide financial support for someone who may need it after your passing, and because of this, you can’t purchase a policy on just anyone.
Group life insurance (also known as wholesale life insurance or institutional life insurance) is term insurance covering a group of people, usually employees of a company, members of a union or association, or members of a pension or superannuation fund. Individual proof of insurability is not normally a consideration in its underwriting.
Your car insurance typically covers family members and friends who infrequently borrow your car, but understanding the coverage limits helps protect you from unexpected costs.
Stranger-originated life insurance ("STOLI") generally means any act, practice, or arrangement, at or prior to policy issuance, to initiate or facilitate the issuance of a life insurance policy for the intended benefit of a person who, at the time of policy origination, does not have an insurable interest in the life of the insured under the laws of the applicable state. [1]
A life insurance policy may be used as collateral to secure a loan. If you die before the loan is repaid, the lender will be repaid from the policy’s death benefit proceeds before beneficiaries ...
Although life insurance benefits are generally free of income tax, the same is not true of estate tax. In the US, life insurance will be considered part of a person's taxable estate to the extent he possesses "incidents of ownership." [5] Estate planners often use special irrevocable trusts to shield life insurance from estate taxes.
Shipping insurance is a policy that provides coverage for the contents of your package if it's damaged, lost or stolen. The retailer or company you're purchasing from will traditionally cover the ...
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