Most Americans have 1 life insurance policy. Why are the SEC coming to Paul Atkins and his wife 54?

Paul Atkins, President Donald Trumps nominee To chair the Securities and Exchange Commission, financial is a comprehensive thing. The Chinese technological giant has the capital of Alibaba, dirty Share in Crypto companies and enterprise capital firms. He also owns the validity portfolio of life insurance policy: 54, with his wife and family, should be accurate.

According to the last ethical disclosure of the agency heads (ATKINS, will be approved as a SEC chairman of this week), members of Congress and other high-level officials.

To put 54 life insurance policies in Atkins, in 2023, there were 260 million active polits in the United States, according to American Life Insurers Council – less than one, average, for each American adults. Meanwhile, life insurance policy, Atkins represented almost 10% of the net worth Bloomberg puts at least $ 327 million.

Atkins decided to leave dozens of life insurance policies, even some experts.

“One person’s owner of 20, 30, 40,” 50, Universal life policy in their lives, “James Carson,” Investigating the insurance market, he said at a professor at the University of Georgia. Fortune. Why, are Atkins so much?

Fortune CEO’s CEO reached Atkins for commentary through consulting company with global partners, but did not answer.

Death and Taxes

Perhaps dozens of life insurance policies, dozens of life insurance policies, a tool for reducing taxes, Professor of Illinois State University Professor Timothy Harris. Fortune.

There are two main types of life insurance: term and whole. Term policies are valid for a while saying that it is 20 or 30 years. The last policy remains valid for the life of the owner. Atkins each is 54 politics in the entire category or a variable known as “Universal”.

All life insurance combines a savings account with a death payment. The politician puts their money on their accounts and receives tax deferred interest. When you die, the beneficiaries receive saved money, interest and one-time amount. “It’s less to avoid premature deaths, and it is more investment vehicle,” Harris said.

Harris, for those who do not maximize their contributions to more traditional pension, 401 (k) and Roth IRA, all life insurance plans are not the best investment, Harris said. However, all benefits from “401 (k) are already running out, this can apply to this or universal life insurance policy and break some taxes,” he said.

A complex financial or speculative bet

Atkins ” life insurance policy is not normal, “” Normal is a normal “, Florida State University, which investigates the risk management and insurance of Florida, said a professor at the University College. Fortune. He said that there could be an explanation outside taxes.

The financial financial finance of the SEC. He has numerous trusts, sitting on the board of companies and the financial advisor Patomak is the General Director of Global Partners. According to him, companies often provide the life insurance policy of members of employees or board. “And this will be the fact that there are special policies written to pay for each of these trusts,” he said.

However, Carson, a professor at the University of Georgia, reflects something other than dozens of politics: a decision to get other people’s life insurance by Atkins.

Such transactions are not uncommon. In some cases, a policy owner can decide whether the rewards are very expensive or no need to ensure that they are already loved. Those who want to throw life insurance can sell it to this company for “surrender” or a purchase price.

Policy vendors can choose to sell to the third party that offers more than the original issuer. In these cases, the third party will continue to pay the fees of politics and the original seller will die from the wind. Those who buy another person’s life insurance policy bets on a person’s life. Will that person die soon to determine the short-term pain of monthly or annual fees?

Carson persuades, so Atkins have 54 life insurance policies. “This man likes to have a large pool of different investments,” he said. “And I think these are investments.”

He pointed out the diversity of variability in the value of the Atkinsin Disclosure Document, as well as the value of life insurance policy. Some are between $ 1 million north and others are between $ 1,000 and $ 15,000.

Atkins are right now in front of the Senate at the approval meeting on Thursday. According to the Ethics Agreement, a large part of its holdings, but plans to overcome a large part of life insurance policy.

This story was first displayed Fortune.com

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