1) It is tax friendly. Life insurance passes to a beneficiary income tax free.
2) It is quick. Since it does not have to go through probate, it gets to the recipient quickly.
3) It is personal. The owner of the policy gets to pick the person he wants to receive it.
4) It is affordable. Being able to collect a large sum of money after paying only a few premiums (if death occurs) is an amazing benefit.
5) It is predictable. With most life insurance policies, you know exactly what will be paid out if you die.
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1) It is tax friendly. Life insurance passes to a beneficiary income tax free.
2) It is quick. Since it does not have to go through probate, it gets to the recipient quickly.
3) It is personal. The owner of the policy gets to pick the person he wants to receive it.
4) It is affordable. Being able to collect a large sum of money after paying only a few premiums (if death occurs) is an amazing benefit.
5) It is predictable. With most life insurance policies, you know exactly what will be paid out if you die.