“Is life insurance really tax free?”
It sure can be, but you’ve got to pay attention to the details.
Life insurance is nearly always (but not always) income tax free. Life insurance is (sadly) nearly always taxed in the estate of the deceased, but it doesn’t have to be. With proper planning life insurance proceeds can be both income tax free and estate tax free to your beneficiaries.
Be sure to plan your estate using the talents of both an experienced estate planning attorney and an experienced life insurance advisor.
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