Keeping in theme with last week’s post about dividends, today’s blog dives into the tax status of dividends. Internal Revenue Code Sec. 72 states that a life insurance policy dividend, when received, is a return of premiums paid into the policy and, as such, is not considered to be taxable income until the total amount […]
Many whole life policies are eligible to receive dividends that are paid annually. Dividends are not guaranteed. Policyowners may use any dividends they receive to pay off some or all of their out-of-pocket premiums or to provide additional life insurance protection and cash value. Many policyowners use their dividend payments to purchase paid-up additional whole […]
You may borrow a portion of the cash value of the policy, including the cash value of dividend additions left in the policy, at any time. Annual interest is charged on a policy loan at either a fixed or an adjustable rate, selected at the time the policy is issued. If a policy loan is […]
Whole Life is a permanent life insurance product. Unlike term insurance, which provides coverage for a specified period, it provides life insurance protection for a lifetime.
“Individual commitment to a group effort– that is what makes a team work, a company work, a society work, a civilization work.” -Vince Lombardi The following article was brought to our attention from Philadelphia native Bryan McCloskey, an agent at our affiliate, Paradigm Life. How Lombardi almost became Eagles coach Frank Fitzpatrick, Inquirer Staff Writer […]
Rebecca A. Rice is the founder of Rebecca Rice & Associates, Inc., headquartered in Little Rock, Arkansas. With 23 agents in 7 states, Rebecca Rice & Associates serves the financial needs of small businesses, non-profits and families across the country.
Rebecca and her team don’t just sell you a life insurance policy and move on to their next client, but instead they do an excellent job teaching the concepts of Infinite Banking and consulting with their clients. They understand that each client’s needs are unique and what works for one may not work for another.