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In selling life insurance, some degree of negotiation of commission between sales person and consumer takes place in the form mixing permanent with term insurance in one policy, the term coverage carrying no commission to the agent, allowing the agent to trade off compensation in favor of enhanced cash value performance. Looking only at cash-on-cash return-premium contributions versus cash surrender value-this article finds that this form of commission negotiation does enhance client value in life insurance to varying degrees, but not in a predictable, consistent or statistically significant fashion.
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HUDSON, Ohio -- The U.S. Government Accountability Office recently issued a long anticipated report on the state of the emerging Life Settlement marke...
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IRS Technical Advice Memorandum 9604001 extends its earlier analysis of the taxation of split-dollar life insurance arrangements by finding that cash surrender value increases in excess of amounts payable to the employer are currently taxable to the employee. In Revenue Ruling 64-328, the IRS identified that premium payments were taxable compensation to the extent they were made by the employer. In the 1996 ruling, the IRS found increases in cash surrender value to be property under IRC section 83.
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The amount of money that an insurance company pays the insured upon cancellation of a life insurance policy before death and whic...
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DEBTOR/CREDITOR INSURANCE: The trial court erred by granting a writ of execution against the cash value of a debtors whole-life insurance policies in contravention of R.C. 3911.10: although the insured had paid the premiums on his life-insurance policies in fraud of his creditors, the insurance policies had not matured, and there were no proceeds to garnish. Under R.C. 3911.10, life-insurance proceeds are exempt from creditors claims except for the amount of any premiums the insured paid in fraud of his creditors. A whole-life insurance policy does not have any proceeds until the policy matures, which occurs when an insured dies or voluntarily accepts the cash surrender value of the policy. See Deal v. Menke (C.P.1939), 14 O.O. 414; see also, Doethlaff v. Penn Mut. Life Ins. Co...
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The National Park Service invites public comments on a proposed alternative formula for the value of leasehold surrender interest to be included in its proposed ten-year concession contract for Shenandoah National Park. The contract will cover operation of the lodging, food and beverage, retail sales, gasoline, and horseback riding operations at the Park.
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S. BANKRUPTCY APPELLATE PANEL
Bankruptcy Life Insurance Cash Surrender ValueForfeiture Order Where a trustee sought a determination that the cash surrender value of a life insurance policy, which was obtained by a Chapter 11 debtor for appellant during her employment with debtor, was an asset of the debtor's estate, the appellant did not have any right to object to the surrender or otherwise exercise any interest in the policy while a forfeiture order was in effect, and judgment for the trustee is affirmed.Judgment is affirmed. Kaler v. Bala (MLW No. 64423/Case No. 12-6025 - 13 pages) (U.S. Bankruptcy Appellate Panel, Saladino, B.J.) Appealed from U.S. Bankruptcy Court, District of North Dakota.
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The National Park Service (NPS) invites public comments on a proposed alternative formula for the value of leasehold surrender interest (LSI) to be included in its proposed 20-year concession contract for Yellowstone National Park (YELL077-13). The contract will cover operation of the lodging, food and beverage, retail sales, transportation and other services at the park.