If I use dividend to pay premium, do I have to pay tax on it? Or is it a wash out, because paying the same premium and getting the same dividend at the same time? Thank you
I have NY life and it has DOT ( dividend options term)rider. I have a question. Will term expire after certain time? I know Cost of that rider going up every year.
Yes generally these riders do have an expiry date. You can find that information in your policy. NYL customer service would also be able to answer this.
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Yep I'm going with Paid Up Additions. The money grows far better with it than anything else.
If I use dividend to pay premium, do I have to pay tax on it? Or is it a wash out, because paying the same premium and getting the same dividend at the same time? Thank you
It's a wash
I have NY life and it has DOT ( dividend options term)rider. I have a question. Will term expire after certain time? I know Cost of that rider going up every year.
Yes generally these riders do have an expiry date. You can find that information in your policy. NYL customer service would also be able to answer this.
Very informative! TY!😃
So I can use dividend to pay for my premiums?
Yes
10 years
Passport I swear I got the best lawyers I got lawyers like Lil Boosie n*****
Ok
yessir
V.
Pay $5,000.00 a year in premiums and receive $150 in dividends........garbage.
This example seems oddly specific to something.
@@SmartRetirementIncome Dividends are nothing but "overpayments" as described by the IRS.