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Spendthrift Clause

Spendthrift Clause Spendthrift clause is a provision in a trust or will that protects the assets of the trust or estate from the creditors of the beneficiary. It prevents the beneficiary from assigning or transferring their interest in the trust or estate, and it also prevents creditors from attaching or garnishing the assets. Spendthrift clauses…

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Graded Whole Life

Graded Whole Life Graded whole life insurance is a type of whole life insurance policy that has a graded death benefit. This means that the death benefit is not paid out in full if the policyholder dies within a certain period of time, typically the first two or three years of the policy. The death…

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Health Reimbursement Account

Health Reimbursement Arrangements (HRA)

Health Reimbursement Arrangements (HRA) A health reimbursement arrangement (HRA) is an employer-funded health benefit plan that reimburses employees for qualified medical expenses. HRAs can be used to reimburse employees for the cost of health insurance premiums, deductibles, copays, coinsurance, and other out-of-pocket medical expenses. HRAs are a tax-advantaged way to pay for medical expenses. Employees…

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Family Maintenance Policy

Family Maintenance Policy

Family Maintenance Policy A family maintenance policy is a type of life insurance policy that provides a guaranteed income to your beneficiaries for a specified period of time after your death. This can be a helpful way to ensure that your loved ones have the financial resources they need to maintain their standard of living…

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