Universal Life Insurance

Universal Life is a type of permanent  life insurance based on a cash value. That is, the policy is established with the insurer where premium payments above the cost of insurance are credited to the cash value. The cash value is credited each month with interest, and the policy is debited each month by a cost […]

Tax Treatment of Annuities

An annuity is a contract issued by an insurance company and usually referred to as an annuity policy or annuity contract. What makes annuities different is the tax treatment given them by the IRS. Think of an annuity as an umbrella. When money is placed under the umbrella or annuity contract, it is treated differently […]