SumitA split annuity is a form of life insurance that pays off the difference when your death occurs. It can be a lump sum, a cash payment, or a life insurance payment depending on how you choose to use it.
A split annuity is a type of life insurance that pays off the difference when your death occurs. It can be a lump sum, a cash payment, or a life insurance payment depending on how you choose to use it.
Most of us are probably familiar with the concept of a “lump sum” life insurance policy. A lump sum is simply a lump sum of money. A lot of us have a lump sum life insurance policy from our parents who always paid off the insurance when one of us died and it was a small sum.
With the lump sum life insurance policy, the money is paid to your estate. The estate is generally your parents or other loved ones. If you don’t have a life insurance policy, then your lump sum is paid to your next of kin.
In split annuity life insurance, the money is paid to your life insurance policy company, but the policy is paid over to the beneficiary upon your death. So, for example, if we have a $100,000 life insurance policy, we may have a $20,000 tax deduction, but our life insurance policy may be paid over to us by our beneficiary upon our death.
This is like how the insurance company would pay your car insurance. The insurance company would pay your car insurance policy with a 20,000 tax deduction, but the policy itself would be paid over to you when you die.
It’s like how the insurance company would pay your car insurance policy with a 20,000 tax deduction, but the policy itself would be paid over to you when you die.
This is like how the insurance company would pay your car insurance policy with a 20,000 tax deduction, but the policy itself would be paid over to you when you die.
Pay your car insurance. The insurance company would pay your car insurance policy with a 20,000 tax deduction, but the policy itself would be paid over to you when you die.Its like how the insurance company would pay your car insurance policy with a 20,000 tax deduction, but the policy itself would be paid over to you when you die.
It’s not like you’re getting a new car, but it’s still a new car and the policy is only ever paid over to you when you die. It’s like the insurance company would pay your car insurance policy with a 20,000 tax deduction, but the policy itself would be paid over to you when you die.
