Here are some key benefits and strategies that make it a valuable tool:

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1. Death Benefits

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• Income Tax-Free: The death benefit from a life insurance policy is generally income tax-free for the beneficiaries.

• Accelerated Benefits: Some policies allow the death benefit to be accessed early if the insured is diagnosed with a terminal or chronic illness, and these benefits may also be income tax-free.

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2. Tax-Free Exchanges

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• Policy Exchanges: You can exchange an existing life insurance policy for a new one without triggering taxes on the gains from the original policy.

• Annuity Exchanges: Similarly, you can exchange a life insurance policy for an annuity, allowing the gains to remain tax-free.

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3. Policy Cash Values

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• Tax-Deferred Growth: The cash value in a permanent life insurance policy grows tax-deferred, meaning you don’t pay taxes on the gains as they accumulate.

• Tax-Free Income: When structured properly, withdrawals or loans against the cash value can be taken out tax-free.

 

 

Additional Benefits

• Business Protection: Life insurance can help protect a small business by providing funds to cover debts or buy out a deceased owner’s share.

• Flexibility: Life insurance policies can be tailored to fit specific needs and goals, offering a range of options from various carriers.

 

 

Why Choose Us?

We offer the flexibility to shop dozens of insurance carriers to find the best rates and products tailored to your specific needs. Plus, we provide complimentary reviews of your existing life insurance contracts to ensure they still align with your goals.

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*Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Policy loans and withdrawals will reduce available cash values and death benefits and may cause the policy to lapse or affect any guarantees against lapse. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost basis will be subject to ordinary income tax. Withdrawals are generally income tax-fee, unless the withdrawal amount exceeds the amount of premium paid. Policy loans are not usually subject to income tax unless the policy is classified as a modified endowment contract (MEC) under IRC Section 7702A. However, withdrawals or partial surrenders from anon-MEC policy are subject to income tax to the extent that the amount distributed exceeds the owner's cost basis in the policy. Tax laws are subject to change. Clients should consult their tax professional or CPA. Keep in mind that most life insurance policies require health underwriting and, in some cases, financial underwriting.