Examlex
With regard to state income taxes, explain what is meant by the "jock tax"?
Life Insurance Firms
Companies that provide financial compensation to beneficiaries upon the death of the insured person.
Death Benefit
The sum paid to a policyholder's beneficiaries upon their death, typically in life insurance and annuities.
Variable Life
A type of life insurance policy where the cash value and death benefit vary based on the investment performance of funds chosen by the policyholder.
Universal Life
It's a flexible premium, adjustable life insurance product where the excess of premium payments above the current cost of insurance is credited to the cash value of the policy.
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