There are tax advantages and disadvantages to buying whole life insurance policies which advisers can point out to clients. There is, for example, a tax-free death benefit for beneficiaries. Plus, if managed correctly, whole life policies can provide tax-free loans to their owners. The downsides include a tax hit on polices that are allowed to lapse, or which are surrendered.
For more Tax info visit Birmingham, Alabama #1 Tax Service at www.mooresservicesonline.com
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