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92 - Insurance Planning and Risk Management S Prohibited provisions found in life insurance (1) Nonpayment of a loan is not a cause for forfeiture, and (2) an insurance company cannot promise something in the declarations and take it away in the ne print 4 Dividend options Participating life insurance policies offer several dividend options: A Cash Dividend is paid to the owner in cash Such payments are considered a return of premium and are income tax free B Reduction of premiums The dividend is used to reduce the current premium C Accumulation at interest The insurance company holds on to the funds and pays interest on the accumulated funds The interest is taxed as ordinary income This is similar to a savings account D Purchase of paid-up additions The annual dividend is used to purchase small amounts of paid-up permanent insurance (no future premiums due) E Purchase of term insurance Used in combination with one of the other options Part of the dividend is used to purchase one-year term insurance in the amount of the guaranteed cash value of the policy F Many companies also permit the owner to apply the dividend to any interest or principal of a policy loan 5 Nonforfeiture option A number of choices are available regarding how a life insurance policy owner can use the policy s cash value: A Surrender for cash The policy owner can withdraw the cash value (called cash surrender value) of the policy All surrenders must be made in cash B Purchase an annuity The policy owner can purchase an annuity o provide income for life or a speci ed time period C Buy a reduced amount of paid-up permanent insurance This option permits the owner to have a zero premium policy of a reduced amount D Buy the same amount of extended term insurance The amount of the term insurance is the same as the face amount of the original policy, but the period of coverage will be only for the time frame identi ed in the policy 6 Settlement options A An interest-only option can be used to buy time before a nal settlement is chosen When interest only is chosen, the insurance company typically sends a quarterly check representing interest earned during the quarter B A lump sum payment is income tax free This is the most popular choice of life insurance settlement A cash settlement allows the bene ciary to retire outstanding debt, pay funeral costs, provide for an emergency fund, and allow for investing in the market C There are several xed annuity options that provide partial taxability: (1) Fixed income option The recipient tells the insurance company how much income is needed each month The insurance company tells the recipient how long the payments will continue (2) Fixed period option The recipient tells the insurance company how long the money must last The company then calculates the amount of each payment (3) There are four life income options (a) Straight life income The bene ciary receives a speci ed amount for as long as he or she lives, but nothing is paid after his or her death This option provides the largest monthly bene t per $1,000 of proceeds.



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Online OCR tools are good to extract text from an image or a scanned document to an editable format.​ Most of these online text scanner and OCR scanner services are free and support multiple file formats.​ ... Without further ado, here are the best free online OCR Scanner tools for ...

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Free Online Hindi OCR (Optical Character Recognition) Tool - Convert scanned Hindi documents into editable files.

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The Cloud OCR API is a REST-based Web API to extract text from images and convert scans to searchable PDF. Free OCR software as a hosted service and as  ...

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Gujarati OCR converts printed Gujarati into digital text documents in Unicode encoding. Digitized Gujarati texts can be stored in different output formats including ...

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The Best Online OCR Software for Converting Images to Text
Feb 8, 2015 · The purpose this first easy task was to wheat out any essentially not working online OCR services. Two services flunked this test: Orcad.js and ...

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Mar 8, 2017 · This is a video demo of the application GOCR OCR (Optical Character Recognition) online ...Duration: 1:39 Posted: Mar 8, 2017












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