Did you know that depending on the size of your estate, your heirs
could be hit with a large estate tax payment after you die (45% of your
estate). The proceeds of a life insurance policy are payable
immediately, allowing heirs to take care of estate taxes, funeral
costs, and other debts without having to hastily liquidate other
assets, often at a fraction of their true value. And life insurance
proceeds are generally income tax free and can be arranged to avoid
probate. Finally, if your insurance program is properly structured, the
proceeds from your life insurance policy won't add to your estate tax
liability. |
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