Malaysia's Industrialization from 1950

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An Agreement In A Life Insurance Contract That States

Affluent people sometimes buy permanent life insurance through a trust to pay the inheritance tax due on their death. This strategy helps preserve the value of the estate for their heirs. Tax evasion is a legal strategy to minimize tax debt and should not be confused with tax evasion which is illegal. Most non-insurance contracts are communication contracts – the amount of consideration given by both parties is usually quite the same. Thus, a contract for the purchase of real estate usually requires a payment equal to its value. However, insurance contracts are contingency contracts, as insurance only has to pay if certain events occur. If they don`t happen, the company will never have to pay, even if the insured has paid premiums for decades. .

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