Take care of those who matter most
It is common for people to put off discussions of life insurance because death is an uncomfortable topic. Grief is a heavy burden for your loved ones, and you don't want to add a financial burden to that load. Buying life insurance can be simple and affordable so that you know your family is taken care of.
Is life insurance taxable?
Life insurance payouts to your beneficiaries are tax-free. However, you do have to consider taxes if you are planning to withdraw from the cash value of your policy. If you plan to withdraw funds or borrow against your cash value policy, it is wise to contact your insurance provider and understand which amounts are taxable and which are not.