Not Exempt IRA
Annuity of retired individuals qualifies for a premium flexible.
Product summary
Individual plan
The IRS Not Exempt is an account or annuity of individual retirement where the contributions and interest differ until you withdraw them.
The options for distribution will be available when you reach the age of 60 years. A deposit of a minimum of $300.00 is required to initiate.
Benefits
- Deduction for contributed to an account or annuity of IRS is of $5,000, off your net gross income, adjustment of that taxpayer, for the concept of salaries on the attributable earnings to professional or the occupations, whichever is minor. In case of married that files tax forms together, the deductions are of $10,000 or the net income adjusted for the concept of income, and the attributable incomes due to professions or occupations, whichever is less. In this case, the maximum annuity for each spouse is $5,000.
- Interest and contributions that are realized by deferred until the funds are withdrawal.
- The principal is guaranteed and is not affected by the market’s fluctuations.
- $0 charge for the opening and maintenance of the annuity.
Contract dispositions
- An initial deposit of $300.00 or monthly payment starting at $25.00 if it by automated agreement. After wising you may continue payments as you wish, subject to the required minimum deposits established by COSVI.
- The annual individual contribution may not exceed the maximum established by the Income Tax Contribution Law.
- You can make three deductions of your payroll, checking account, savings account, and credit cards.
Payment methods
These are the payment methods available to purchase your plan.
Frequently asked questions
We leave you some of the most frequently asked questions about our plans
What should I do to add a beneficiary to my COSVI policy?
To designate a beneficiary, all you have to do is fill out the Request to Add Beneficiaries document and send it in original format by regular mail to: Cooperativa de Seguros de Vida de Puerto Rico, COSVI Attention Issuance Department PO Box 363428 San Juan, P.R. 00936-3428 You can also bring it to any of our offices or send it by email to serviciosalcliente.documentos@cosvi.com.
What should I do if I want to reinstate my cancer policy or other type of Supplemental Insurance?
You just have to fill out the Reinstatement Application and send it in original format, with two payments of the premiums owed by regular mail to: Puerto Rico Life Insurance Cooperative, COSVI Attention Issuance Department PO Box 363428 San Juan, P.R. 00936-3428 You can also deliver it to any of our offices or through your authorized insurance agent.
What are the documents that I must send to claim pain therapy, yoga and psychology services?
You should send an expense receipt showing a breakdown of the benefits paid by the insured. The receipt should contain the address, name, and profession of the person providing the service. In the case of yoga, it should be administered by a certified yoga guru.
Is it necessary to pre-certificate the services under School and Special Accidents Policy?
No, is a policy of reimbursement, why which no services are pre-certified.
The cancer policy only covers the deductible of the medical plan or the total of expenses incurred?
No, the reimbursement will be processed in line with the benefit reclaimed and the limits of the coverage.
What should I do to solicitate withdrawals from my IRA account?
All you must do is complete the application to withdraw from My IRA and comply with the delivery of the required documents depending on your circumstances at the time of withdrawal. The formality may be advanced via taxes, but because of the requirements of the Secretary of Treasure and these types of transactions, the original documents are required for the delivery of the disbursement you can advance the process by sending your copies to fax at 787-772-4191.
Steps to acquire your insurance
In just three steps, you can get the policy you are looking for.
Initial Consultation
In your initial orientation appointment, the objective is to establish good relations hear youcarefully and make adequate questions to know which you are needs a free consultation.
Evaluation
Depending on your needs, we evaluate the different products beneficial for you.
Presentation
Besides your resume, we will continue to evaluate all information provided to recover your situation and confirm your needs. We propose an action plan that identifies and explains different products and alternatives that meet your needs. If you agree with our recommendations, we help you get the product.
Orientación Inicial
En la cita inicial el objetivo es establecer una buena relación, escucharle detenidamente y hacerle las preguntas adecuadas para saber cuáles son sus necesidades.
Evaluación
Dependiendo sus necesidades, se evaluarán los diferentes productos de mayor beneficio para usted.
Presentación
Además, de resumir la situación, confirmar sus necesidades se procede a evaluar toda la información provista, se presenta un plan de acción en el que se identifican y explican los diferentes productos y alternativas que satisfagan sus necesidades. Si usted está de acuerdo con las recomendaciones, se le ayuda adquirir el producto.
What our clients are saying
Look what are insured have to say about our policies and our services.
I was treated very kindly and promptly.
Very well located and a wide variety of insurance products.
Good service, I won't let them.
Tremendous company. It is by appointment, at the moment, they are very helpful and fast, you do not waste time. Make an appointment by phone and that's it!!! Good service.
Excellent customer service.
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