What is a contingent beneficiary?

Life insurance policies (whether Ordinary Life or a variation) are issued on a ... Federal Employees' Group Life Insurance to determine eligibility for conversion ... Life insurance can help your loved ones pay for funeral costs, cover bills and ongoing living expenses, pay off debts, finance future needs and protect ... Whole Life Insurance. Whole life or ordinary life insurance is a type of permanent life insurance. It provides coverage for the life of the insured and can ... Whole Life Insurance (also known as straight life, ordinary life, and traditional permanent insurance) is designed to provide coverage for your entire ... Ordinary Life Insurance · 50% of Sum assured is paid in two installments before the maturity. · Remaining 50% plus accrued bonus is paid on maturity · Full Sum ... At a Glance. Ordinary Life Insurance plan is a whole life protection plan that provides financial assistance to the ones you'll leave behind when you pass. ... life of the policy. This plan gives you two options: Ordinary Life's participating policies that allow the insured to earn additional cash value based on ... NRS 688A.340 Basis for calculating adjusted premiums and present values on ordinary policies issued after operative date of this section; election to come under ... Section 72(e) does not specify whether income recognized upon the surrender of a life insurance contract is treated as ordinary income or as capital gain. Thus, ... In general, any net gain from the sale or conversion of such assets is regarded as long-term capital gain; any net loss, as an ordinary loss, deductible in full ...