by joven222 » Tue Jan 16, 2007 09:28 pm
Hello!!
I believe you have heard about revocable and irrevocable life insurance policy.
Can any one explain what are revocable and irrevocable life insurance policies? How these two differ from one another and what are the advantages and disadvantages of each one.
If you can include where these two life insurances are applicable, feel free to do so.
Thanks a lot!!
I believe you have heard about revocable and irrevocable life insurance policy.
Can any one explain what are revocable and irrevocable life insurance policies? How these two differ from one another and what are the advantages and disadvantages of each one.
If you can include where these two life insurances are applicable, feel free to do so.
Thanks a lot!!
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Posted: Wed Sep 29, 2010 05:39 am Post Subject:
An Irrevocable Life Insurance Trust, or ILIT, may be used to transfer substantial proceeds from a life insurance policy to your children or other descendants, free of gift tax and estate tax. and the revocable is The ability of a policy owner either to change who will receive the compensation from his or her policy or to terminate the policy without having to get consent from the current beneficiary. Most life insurance policies have this feature.
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Posted: Sat Jul 02, 2011 03:22 am Post Subject: irrvocable insurance
in the divorce I singed to make the minor child as a benificary and the mother a irrvocable trustee now after her repeted contemp of visitation and taking her to court it is now my desire to remove her as trustee can I do this?
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