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Private Wealth Management: The Complete Reference for the Personal Financial Planner, Ninth Edition, 9th Edition by Jerry Rosenbloom, G. Victor Hallman

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29

Life Insurance in Estate Planning

Life insurance is an important, tax-efficient asset to be used in wealth management. Previous chapters have dealt with the structure of various life insurance contracts, how life insurance can protect families against loss of the insured’s earned income at death, and life insurance as an asset class for asset allocation purposes. This chapter will build on this information and deal with the tax advantages of life insurance and life insurance as a wealth transfer system.

TAXATION OF LIFE INSURANCE

The tax advantages of life insurance were first mentioned in Chapter 21. In this chapter, we shall consider these advantages in more detail.

Federal Income Taxation

Death Benefits The face amount of a life or accident ...

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