Universal Life Insurance, Part 3
Also, please consult a tax advisor when entering into any financial contract, especially that of a universal life insurance policy. There are ways that life insurance companies can deal with federal income taxes when it comes to the death benefit on this policy. Fore example, sometimes the death benefit can be considered regular income, rather than as a life insurance, so it can become subject to heavy taxes. This would not be good for the beneficiary.
You should get something in writing from your life insurance company, which tells you how the beneficiary should get his/her death benefit money in case there are errors (such as the beneficiary having to pay taxes on the death benefit).
Most term life insurance policies are affordable, but beware of term life insurance rate companies who give out term life insurance rates and policies, but don't give you the fine print. Make sure you read a term life insurance rate policy before signing it. Ask you term life insurance rate broker questions if you do not understand the term life insurance rate policy. Ask Term Life Insurance Rates, Co. if you have term life insurance rate questions. We have all of the term life insurance rate answers to all of your term life insurance rate questions, and we are never in a hurry to offer you a term life insurance rate policy if you are not ready.
Universal Life Insurance, Part 1
Universal Life Insurance, Part 2
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