The policy thus replaces the assets in the trust, and the insurance proceeds are not diminished by estate taxes.
Much of the financing - $819 million - is to come from insurance proceeds.
The balance is to come from insurance proceeds and conventional financing.
If he is successful, the authority's share of the insurance proceeds would jump to $3 billion, from $1.5 billion.
The project, financed almost entirely by insurance proceeds, is estimated to cost $700 million.
But the business specialists noted that large companies usually had greater resources to cope with a shortfall in insurance proceeds.
The insurance proceeds will be included in the beneficiary's taxable estate at his or her subsequent death.
Whatever the decision, it should be done sooner rather than later because he's drawing down the insurance proceeds.
In all, the former executives had the legal right to draw down about half of the remaining insurance proceeds, or $100 million.
It would cost more than $1 billion, financed by insurance proceeds.
As insurance proceeds flow into the marketplace and construction begins, the boost to the city's economy may resemble what happens in cities that suffer natural disasters.
It already has $146,000, the insurance proceeds from the 1982 fire.
Under the new rules tenants will also be permitted to pocket, without tax, any insurance proceeds not used to replace lost furnishings.
However, any insurance proceeds voluntarily applied to any outstanding mortgages do reduce loan eligibility.
Over the last nine months, it has refused to release any insurance proceeds to Mr. Silverstein that would allow him to pay for architects involved in rebuilding.
To them, it would have made more sense to divide the insurance proceeds among shareholders and then sell the property.
He then divided the insurance proceeds with Frey's widow.
Under increasing pressure, the authority split the insurance proceeds with Hoboken.
Manufacturers retain any insurance proceeds on account of defense costs.
When a donor dies, the insurance proceeds first go to repay the investors, and any extra benefits go to the charity.