Life Insurance Advantages
Tax implications are important details to consider when deciding where you will devote your money for the future. There are so many instances where people enter into retirement investments thinking that amount will be available just to find out a large portion will be inevitably dedicated to a tax bill. We here at Trajan Wealth understand that each dollar is important, which is why we would like to discuss the many substantial tax advantages associated with life insurance products.
One big tax advantage to using life insurance products is the proceeds of a death benefit are excluded from federal income tax. The proceeds are customarily received in one lump-sum, tax free, minus any policy loans and interest associated with those loans.