The article presents an Indiana appeals court decision concerning Stuart Cochran's irrevocable trust. Insurance policy replacement by trustees resulted in much lowered face value at Cochran's death. Beneficiaries sued, and the trustees were found not guilty of any breach in fiduciary responsibilities. ...
Replacement:The act of terminating a policy with an insurance company and replacing it with a new insurance policy. An internal replacement involves both policies from the same company while an external replacement involves two separate policies, each from a different insurance company. Replacement tran...
With the coinsurance clause in place, businesses who would like to save money and avoid further expenses by going for lesser insurance would be encouraged to insure the property at the value of its replacement cost or near it. It is advised to avoid skipping out on appropriate property ...
If you have a spouse and children or other family members that depend on your income, they will struggle financially if you passed away. A life insurance policy will give them the resources they need to have time to find a permanent replacement for your paycheck. ...
Learn what liquidity means in the context of a life insurance policy and how it relates to your financial situation. Understand the importance of having a liquid life insurance policy.
Replacement Insurance—For LifeAll fields are required. Request and receive replacement copies of your Master Case Builder ebooks and apps at any time. Solution Matrix delivers all orders via a download link that remains valid for 10 days. Anytime after that, you can receive a replacement downloa...
Pension or Retirement Income Replacement: When a retiree dies, their pension may not continue on for their spouse. Buying a life insurance policy can ensure your spouse has some income to keep up with living expenses and enjoy life once you’re gone. Business Succession: Life insurance can hel...
Permanent insurance provides coverage for the life of the insured as well as a cash value investment feature that the policyholder may access within certain parameters. If you’ve heard of a “whole life” policy, that’s one type of permanent insurance. There are also universal, variable, and...
Life Insurance Buying Guide Step 1: Determine How Much You Need Think about what expenses would need to be covered in the event of your death. Consider things such as mortgage, college tuition, credit cards, and other debts, not to mention funeral expenses. Also, income replacement is a maj...
How much life insurancethey should buy depends on how much replacement income their family will need and for how many years they will need it. Major debts such as a mortgage and expensive future obligations such as college tuition should also figure into the equation. Many people get some amou...