There are several types of tax benefits when you purchase life insurance in Fayetteville, NC. You can purchase term life using pre-tax money that is not taxed until you withdraw the funds and permanent life insurance provides tax free benefits for the beneficiary. Speaking with an independent agent at Cross Creek will help you find the answers you need about taxes and life insurance.
One of the best tax benefits with life insurance is using pre-tax money to pay the premiums on term life insurance. Your employer may offer this through company benefits and you may be able to transfer the premium if you leave your job. Using this method, you do not have to pay taxes on the amount held in the plan until you receive the benefits.
Other types of tax benefits can be found with permanent or universal life insurance coverage in Fayetteville, NC. While you will pay taxes in the beginning, the beneficiary of the policy will not have to pay taxes when he or she receives the benefits. It is best to speak with an independent agent about all of the available options.
If you are thinking about purchasing a life insurance policy in Fayetteville, you need to speak with us so we can explain all of the benefits. Many policies are very affordable and can provided protection for your family and give you peace of mind. You will need help to determine the amount of life insurance you need. Call your independent agent at Cross Creek today.