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精东影业, its affiliates, their distributors and respective representatives do not provide tax, accounting or legal advice. Any taxpayer should seek advice based on the taxpayer鈥檚 particular circumstances from an independent tax advisor or attorney.
精东影业 is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products.
1听Cash value life insurance generally requires additional premium payments after the initial premium. If either no premiums are paid, or subsequent premiums are insufficient to continue coverage, it is possible that coverage will expire. Life insurance is subject to underwriting and approval of the application. In general, additional premium is required to continue coverage of the policy. Policy may lapse if premium is insufficient to continue coverage.
2 The cost of the life insurance and benefits provided through the policy is deducted monthly in the form of policy charges, which include an听Administrative Charge, Coverage Charge, Cost of Insurance Charge, and any applicable rider charges. Additionally, a premium load is deducted from each premium payment. To understand how the policy charges will affect your policy鈥檚 cash value, request a personalized illustration that includes the 鈥淎nalysis of Charges鈥 report.
3 For federal income tax purposes, tax-free income assumes, among other things: (1) withdrawals do not exceed tax basis (generally, premiums听paid less prior withdrawals); (2) policy remains in force until death (any outstanding policy debt at time of lapse or surrender that exceeds the tax basis will be subject to tax); (3) withdrawals taken during the first 15 policy years do not cause, occur at the time of, or during the two years prior to, any reduction in benefits; and (4) the policy does not become a modified endowment contract. See IRC 搂搂 72, 7702(f)(7)(B), 7702A. Any policy withdrawals, loans and loan interest will reduce policy values and may reduce benefits.
4 For federal income tax purposes, life insurance death benefits generally pay income tax-free to beneficiaries pursuant to IRC Sec. 101(a)(1). In听certain situations, however, life insurance death benefits may be partially or wholly taxable. Situations include, but are not limited to: the transfer of a life insurance policy for valuable consideration unless the transfer qualifies for an exception under IRC Sec. 101(a)(2)(i.e. the transfer-for-value rule); arrangements that lack an insurable interest based on state law; and an employer-owned policy unless the policy qualifies for an exception under IRC Sec. 101(j).
5 In order to sell a life insurance product, a financial professional must be a properly licensed and appointed life insurance producer.
精东影业's Home Office is located in Newport Beach, CA.
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