Another benefit: An ILIT can help you can avoid tax on both spouses’ estates. Life insurance proceeds can be held in a trust for the benefit of the surviving spouse during his/her lifetime.

If you became ill or an injury left you unable to work, how would you cover your expenses? Life insurance with living ...

Cash value life insurance is permanent life insurance with a cash accumulation component. As long as premiums are paid, these ...

As you approach retirement, ensuring you have enough savings to maintain your lifestyle is crucial. However, life insurance ...

If you are the beneficiary of a life insurance policy, the payout — known as a death benefit — is typically tax-free. There are some exceptions, however. Here's what you need to know about ...

the cash value grows tax-deferred. Life insurance allows you to transfer a death benefit to beneficiaries income tax-free. While estate taxes can apply to life insurance, there are strategies to ...

The imputed cost of coverage in excess of $50,000 is considered taxable income. The imputed cost, if any, will be shown and taxed on your paycheck. This is a Term Life Insurance benefit and holds no ...

Term life insurance offers short- and long-term ... The death benefit on your policy is generally tax-free. This lump sum benefit can help you plan for any number of financial obligations.