Viatical Settlement & Senior Viatical Life Settlement - Selling your life insurance policy
TOLL FREE: 800-832-7512
|
Viatical Settlement & Senior Viatical Life Settlement - Selling your life insurance policy
|
|
Bonding |
Viatical Settlement and Senior Life Settlement Tax Federal Tax State Resources "Certain payments received under a life insurance contract on the life of a terminally or chronically ill individual before the individual's death (an accelerated death benefit) can be excluded from income See Exception, later. For a chronically ill individual, the payments must be for costs incurred for qualified long-term care services or made on a periodic basis without regard to the costs. In addition, if any portion of a death benefit under a life insurance contract on the life of a terminally or chronically ill individual is sold or assigned to a viatical settlement provider, the amount received is also excluded from income. Generally, a viatical settlement provider is one who regularly engages in the business of buying or taking assignment of life insurance contracts on the lives of insured individuals who are terminally or chronically ill. To claim an exclusion for accelerated death benefits made on a per diem or other periodic basis, you must file Form 8853, Medical Savings Accounts and Long-Term Care Insurance Contracts, with your return." Federal Tax!!
: Make it your Homepage 1 Add this page to Favorites * Share it with a Friend Viatical Benefits Options Begin Sales Forms Escrow Privacy Mission Investors Seniors Feedback Search Terms Industry Bonded Home High Worth Selling USDOI Broker Provider Contract Companies SHFLLC Apply Index Terms Viatical settlements not available in Wisconsin and some other states
|
|
|
|