insurance policies

Parishes, schools to be shielded from lawsuits in Archdiocese of Baltimore bankruptcy for now

A federal bankruptcy judge on Tuesday agreed to shield the Archdiocese of Baltimore’s parishes and schools from lawsuits, at least for now, in order to protect insurance policies that are likely some of the archdiocese’s most important assets.

The decision means that childhood sexual abuse survivors will not be able to file lawsuits against an individual parish or school if the institution was covered by the same insurance policy as the archdiocese.

The judge’s order shielding those institutions is preliminary. A legal fight over the church’s assets is almost certain to come later as plaintiff’s lawyers seek compensation and other benefits for sexual abuse victims in the bankruptcy.

The archdiocese’s lawyers on Tuesday presented the move as an effort to shield assets that will later be distributed among victims with claims against abusive members of the clergy and church officials that protected them.

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If survivors file lawsuits against individual parishes that are covered by the same insurance policies as the archdiocese, their potential winnings in court would diminish the total amount available for distribution from the policies later, they said.

U.S. Bankruptcy Judge Michelle M. Harner

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4 Living Benefits of Life Insurance



CHICAGO, June 28, 2022 (GLOBE NEWSWIRE) — One advantage of getting a life insurance policy is the death benefit. This helps loved ones replace the policyholder’s income and pay off debts if the policyholder passes away during the policy term.

However, life insurance policies can also offer living benefits while the policy is in force. These benefits can help the policyholder make the most of their premium payments. This article will dive into how life insurance with living benefits can help policyholders while they are alive and the policy is still outstanding.

1. Cash value withdrawals

Cash value is a growth component of permanent life insurance policies. Part of each permanent policy premium goes into this component, which then grows tax-deferred at a certain rate depending on the permanent policy type.

Once the cash value grows large enough, policyholders may be able to withdraw funds from it for any use, such as emergencies, large purchases, or college tuition for their children. Keep in mind that proceeds above the policyholder’s basis, or the amount initially invested, may be taxable.

2. Taking out loans against the cash value

Policyholders can also borrow against their cash value when it grows large

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New VA Benefit Will Sell Guaranteed Life Insurance to Most Veterans

A new Department of Veterans Affairs life insurance policy for veterans of any level of disability rating is just six months away from launching.

In a blog post Monday, the VA reminded veterans it will begin offering Veterans Affairs Life Insurance, or VALife, on Jan. 1, 2023, in line with a law passed last year, with applications opening that day.

VALife will be open to all veterans 80 years old or younger who have a disability rating of 0 to 100. Older veterans will also be eligible if they applied for VA disability compensation before age 81 but did not receive the disability rating until after turning 81, and if they apply for the life insurance within two years of getting the rating.

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“The new program meets the needs of service-connected veterans who may not have previously qualified for life insurance with VA,” the blog post said.

VALife is what’s known as guaranteed acceptance whole life insurance. That means no medical exams or health questions are required to be approved, with the VA in its blog post saying the plan will have

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