trusts and estates
A form of whole life insurance that accumulates cash value on a tax-deferred basis. Variable life insurance operates similarly to a mutual fund because the insured pays premiums that go into a separate investment account owned by the insured.
A form of life insurance that offers flexible premiums, adjustable death benefits, and the ability of the insured to make partial withdrawals from the cash value. Universal life insurance policies generate cash value as the insured’s premium payments are invested into the insurer’s investment fund. The insurer pays the interest at a rate that is competitive with other investments, such as treasury bills, and the insured may use that interest to pay for his or her life insurance premiums.
A medical examination of a corpse to determine disease, injury, and cause of death, especially in a criminal investigation. Also termed postmortem; postmortem examination; necropsy; obduction.
In trust law, a remainder interest is the part of the trust property that remains after the specific devises are given to the intended beneficiaries.