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Article: Don't pass up the tax avantages of life insurance.(Special Advertising Section)
- Article from:
- Arkansas Business
- Article date:
- October 4, 2004
- Author:
CopyrightCOPYRIGHT 2004 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Taxes are always a Problem for affluent Americans. Fortunately, taxpayers still have access to many tax-advantaged programs, including tax-deductible retirement plans such as IRAs and 401(k)s, tax free municipal bends, and tax-deferred investments such as annuities and tax-advantaged life insurance. Many investors may not be aware that certain life insurance policies can provide tax benefits.
Types of Insurance Policies
There are two basic types of life insurance: term and permanent. Policyholders of term insurance pay a premium in exchange for a specified death benefit. Permanent life insurance policies provide a death benefit and build cash value. ...