January 2022 - Udell Family Insurance

Are Term Life Insurance Benefits Taxable?

9:00 am
|
0 Comments
Are Term Life Insurance Benefits Taxable?

Whether you’re a business or an individual, it’s always financially prudent to get the lowest tax liability legally possible. This requires an awareness of all the tax deductions and credits you may be eligible for. It’s probably why you’re wondering if term life insurance benefits are taxable.

Are Life Insurance Payouts Taxable?

Normally, the proceeds of your term life insurance policy aren’t subject to state or federal tax. The death benefit will go to your named beneficiary tax-free provided that it’s a lump sum, one-off payout […]

7 Important Reasons Why You May Need Life Insurance

9:00 am
|
0 Comments
Important Reasons Why You May Need Life Insurance

Even though life insurance is often perceived as an older adult’s concern, it’s something you should think about even at a young age. Here are key reasons people of all ages need life insurance.

You have children or are preparing for one

Once you start a family, there’s no turning back in terms of ensuring your kids have the proper care. If you die or become ill and cannot work, your life insurance plan can pay your family bills. Life insurance covers mortgage, college, and other living expenses.

Pregnant women may […]

Call Us contact us