Barbara's policy includes a rider that allows her to purchase additional insurance at specific dates or events without evidence of insurability.
The Guaranteed Insurance (GI) tab is available on certain life insurance policies to provide supplemental insurance at a specified date in the future (subject to minimum and maximum limits) without taking any exams or answering health questions. can be purchased.
Dividends are not normally taxed as income. Instead, premium reimbursement, whether received in cash, used to purchase additional coverage, used to reduce future premiums, or remain invested in the insurance company.
Life insurance dividends are generally not taxed as they are considered premium refunds. Dividends paid are added to the base when used to purchase additional insurance.
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