NLIC.org

Tammy Said:

I purchased a single premium whole life insurance policy in 1984. I am confused about the tax on policy loans

We Answered:

If you cashed out, I suspect that you would realize income of $66,000 + $64,000 - $50,000, or $80,000. This is enough of a hit to justify a visit to a tax consultant. Since the value of the policy has grown from $50,000 to $130,000 in 23 years, your compound rate of return on the original investment is 4.15% per year. Nothing to brag about, but you did have insurance coverage.

Myrtle Said:

How much commission is paid on Single Premium (or single payment) Whole Life Insurance Policies?

We Answered:

Agents make the most money on Life insurance. Every company is different most companies pay 60% commission on the annual premium. Good money on an older client..........

Brandy Said:

How much would $1000.00 buy, of Single Premium Life Insurance?

We Answered:

Well, definately $1,000!!

But it will depend on your age and your health.

Paul Said:

in a car insurance premium been Single means the same than been divorced?

We Answered:

No, single and divorced are different categories. If you put single, have a claim and they find out you are actually divorced, you have committed fraud and they can now deny your claim. If you are divorced her driving record will not affect your premium, and won't even be looked at.

Julian Said:

Mechanism of premium to be paid on single voyage marine cargo insurance?

We Answered:

You want to purchase a Trip Transit policy. This is the coverage form used for a single shipment of property. The coverage remains in effect from the time the shipment is picked up for delivery, while it is in temporary storage, and while it is in transit. When the shipment is delivered to you the coverage ceases.