There are several common reasons people may use life insurance:
1) Life Insurance is Tax Friendly - The proceeds from a Life insurance policy usually pass to a beneficiary free from federal income tax.
2) Life Insurance is Quick - Since it does not have to go through probate, it gets to the recipient quickly without added delays of probate, or penalties for probate tax.
3) Life Insurance is Predictable - With most life insurance policies, you know exactly how much money will be paid out to your beneficiaries upon your death.
4) Life Insurance is Personal - The owner of the life insurance policy gets to pick the person he wants to receive it the proceeds form the policy. It can be one person, or several people who receive money fro the life insurance policy you own.
5) Life Insurance is Affordable - Being able to collect a large sum of money after paying only a few premiums (if death occurs) is an amazing benefit. And, rates for term life insurance policies are affordable for almost any budget.
Learn more about the top 10 reasons people use life insurance.
1) Life Insurance is Tax Friendly - The proceeds from a Life insurance policy usually pass to a beneficiary free from federal income tax.
2) Life Insurance is Quick - Since it does not have to go through probate, it gets to the recipient quickly without added delays of probate, or penalties for probate tax.
3) Life Insurance is Predictable - With most life insurance policies, you know exactly how much money will be paid out to your beneficiaries upon your death.
4) Life Insurance is Personal - The owner of the life insurance policy gets to pick the person he wants to receive it the proceeds form the policy. It can be one person, or several people who receive money fro the life insurance policy you own.
5) Life Insurance is Affordable - Being able to collect a large sum of money after paying only a few premiums (if death occurs) is an amazing benefit. And, rates for term life insurance policies are affordable for almost any budget.
Learn more about the top 10 reasons people use life insurance.
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