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Life Insurance can not only be an asset but also an investment.
It offers the ability to leverage your money. When you buy Permanent Life Insurance, you are paying a discounted price today to buy money in the future. For example, a healthy 65-year-old may pay $300,000 today so that her kids will receive $1 million upon her passing. When you buy life insurance inside of a properly structured trust, you can accomplish even more: The money you put in will reduce the size of your estate, and the eventual death benefit will be passed to your heirs, income and estate tax-free.
The death benefit is often fixed and guaranteed. Life insurance eliminates the risk of investing because it tells you exactly what your future payout will be.
Life insurance policies have the ability to generate tax-free cash in the future. Life insurance policies have several ways to access the money. Polices that have been enacted several years offer a tax-free income, ways to pay college costs, and even options of tax-free loans.