(PRWEB) November 29, 2013
Whole life insurance can be used in estate planning with many positive results. Whole life insurance is not just a simple insurance policy, but a lot more. Clients who know how to exploit the many features and advantages of such a plan can avoid important real-estate and inheritance taxes.
Whole life insurance is a type of permanent life coverage. The policy will never expire as long as the insured keeps paying the premiums. A permanent policy will always pay insurance proceeding after the insured dies. Besides permanent coverage, this policy comes with an investment component which generates cash value.
The cash value can be withdrawn, tax free, and it can be used by the policyholder to cover urgent financial needs.
Inheritance or death taxes can eat a big chunk of a person’s estate. The money paid in taxes will not reach the heirs or any family members, which results in great financial losses.Since a life insurance benefit, under certain conditions, is not taxable, it can work as a tax-free inheritance allowing the policyholder to leave a big inheritance without paying taxes.
Whole life insurance can work as an inheritance, but it can also be used to pay important estate taxes and cover other expenses such as mortgage loans. It offers substantial financial protection for a family since the benefit will allow the remaining family members to control and keep the policy holder’s estate in once piece.
“Whole life insurance can be a powerful tool in estate planning! It provides one of the best financial protection for families and it can be a wise investment!” said Russell Rabichev, Marketing Director of Internet Marketing Company.
Online Insurance Marketplace is an online provider of life, home, health, and auto insurance quotes. It is unique in that this website does not simply stick to one kind of insurance carrier, but brings the clients the best deals from many different online insurance carriers. This way, clients have offers from multiple carriers all in one place, this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.
For more information, please visit http://wholelifelifeinsurance.org.