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marusya05 [52]
1 year ago
7

the policy loan provision means that a. an individual can take out a loan on his term policy. b. the death benefit will be incre

ased by the amount of an outstanding policy loan. c. the policyowner can borrow any amount up to the cash value of the policy. d. the beneficiary can borrow any amount up to the total benefit. e. no interest will accumulate for any loans related to life insurance.
Business
1 answer:
Alenkasestr [34]1 year ago
5 0

According to the policy loan clause, the policy owner may borrow any sum up to the policy's cash value. As a result, choice (C) is the best way to respond.

<h3>What is policy loan?</h3>

A policy loan is given out by an insurance provider and is secured by the cash value of the borrower's life insurance policy. A "life insurance loan" is another name for it. They used to be renowned for having cheap interest rates, but that isn't necessarily the case now.

Even though they have limitations, policy loans typically provide easy access to money. When a universal or whole life insurance policy has built up cash value, policy loans may be taken out.

Hence, option (C) is the accurate one.

Learn more about policy loans, from:

brainly.com/question/14971100

#SPJ1

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In California, if the tip is included in the service charge, Anne's employer must pay taxes for them. The employer is required to pay for these taxes in California, not the employee. Even though tips are not part of an employee's wage, they are still taxable. This means that Anne must include the $51 in her AGI.

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Explanation:

Reference possibilities could be

1. http:/guides.library.harvard .edu/

2. Your state website ie Maine.gov mass.gov

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8. Http.thelawdictionary.org for legal terms or the black law dictionary

Be cautious of commercial websites some that are good and can give information that is not completely accurate.

C1. Findlaw.com

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Both are used for general information.

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5 0
3 years ago
On January 1, 2018, Jolley Corp. paid $250,000 for 25% of the voting common stock of Tige Co. On that date, the book value of Ti
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Answer:

            Dr. Investments in Associates 250,000

            Cr.            Cash                                 500,000

          Dr. Cash                                   10,000

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Explanation:

The equity method is a type of accounting used to incorporate investments. It is used when the investor holds significant influence over the investee but does not exercise full control over it.

An investor is deemed to have significant influence over an investee if it owns between 20% to 50% of the investee’s shares or voting rights.

- Jolley receives dividends of $10,000, which is 25% of $40,000, and records a reduction in their investment account. The reason for this is that they have received money from their investee.

- Jolley records the net income from Tige Co. as an increase to its Investment account.

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3 0
3 years ago
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