 Most people think of life insurance in terms of death benefit protection. However, todays policies also provide the vehicles for meeting other goals, such assaving for retirement and education, paying estate taxes and providing liquidity.
An added bonus of these policies is that most goals can be achieved on atax-free or tax-deferred basis. In effect, life insurance is one of the few remaining taxshelters available.
Years ago, life insurance purchases were made almost entirely by men to protecttheir families. But now, women too, are significant breadwinners, and coverage ontheir lives has become common. People now protect their familys lifestyle byinsuring bothspouses, especially if that lifestyle is dependent on two incomes.
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