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 […]
Life insurance is a policy where the provider is obligated to pay a sum of money to the listed beneficiaries after the policyholder’s death. The policyholder makes periodic payments, known as a premium, to the insurance company until his or her death. Note that not all life insurance policies will kick in after death because some have specified term periods, which will be terminated if the insured person lives beyond the insured term.
What Are Term Life Insurance and Whole Life Insurance?
Term life insurance is a policy that covers a specified term, usually between […]
Isn’t it easy to fall for insurance ads that claim, ‘Protect yourself with a few dollars’?This seems like a feasible and affordable deal, right? But is it the perfect policy option for you? Let’s find out.
We have prepared a list of questions that you need to ask before getting life insurance. Simply go through these typical life insurance questions and assess your requirements.
Who Are My Dependents?
It is necessary to consider all your dependents before purchasing a life insurance policy. If you have children, grandparents, elderly parents, or family members with […]
During Life Insurance Awareness Month, we want to make sure you’re aware of your Westlake Village, CA term life insurance options.
September is Life Insurance Awareness Month, so we want to take advantage of the opportunity!
Particularly, we want you to know that you have life insurance options. Your life looks different from your friend’s, your neighbor’s, and your co-worker’s, so why would you all be stuck with the same type of life insurance policy? Fortunately, you aren’t! While you can get whole life insurance that will stay in force […]