In general, you must begin receiving minimum distributions by April 1 following the later of (1) the year in which you reach age. 70Â½ or (2) the year in which you retire from service from the employer maintaining the Plan.
Permanent insurance provides lifelong protection, and the ability to accumulate cash value on a tax-deferred basis. Unlike term insurance, a permanent insurance policy will remain in force for as long as you continue to pay your premiums.
By Barry Higgins AAA |. A: Term insurance is a type of life insurance policy that provides coverage for a certain period of time, or a specified term of years. If the insured dies during the time period specified in the policy and the policy is active-or in force-then a death benefit will be paid.Term insurance is initially much less expensive when compared to permanent life insurance. Unlike most types of permanent insurance, term insurance has no cash value.f the insured dies during the time period specified in the policy and the policy is active-or in force-then a death benefit will be paid. Term insurance is initially much less expensive when compared to permanent life insurance. Unlike most types of permanent insurance, term insurance has no cash value.