Life insurance is a contract that guarantees payment to a beneficiary after the death of the person who is insured. It can be used for a number of needs - including family protection,
business planning, supplemental income and estate, and charitable planning. One of the most attractive features of life insurance is that its death benefit is free of federal income tax, and if properly structured, it is free of federal estate tax.
Life insurance can provide money at a time when your loved ones may need it most; it can help to provide income for survivors and to pay off debts. It can fund children's education, cover final expenses, be used for charity purposes, provide a legacy, or create a ready pool of
cash for other needs.
person who is insured. It can be used for a number of needs - including family protection,
business planning, supplemental income and estate, and charitable planning. One of the most attractive features of life insurance is that its death benefit is free of federal income tax, and if properly structured, it is free of federal estate tax.