There are many ways to protect your family with life insurance. Life insurance planning is not only for those who support a family. There are several reasons for thorough life insurance planning. Other key purposes of life insurance include retirement and estate planning. Many people don't realize that even though life insurance proceeds are paid income tax-free to the beneficiary, there's a good chance the proceeds will be included in the value of your estate which may be taxed.
People often make the mistake of assuming their employer-provided life insurance is adequate.
The concepts contained herein are not intended to serve as advice and may have legal, tax and accounting implications. Consult your Attorney, and CPA for advice.