Life Insurance

• Life insurance is a simple way for you to pass along money to your heirs with minimal income-tax implications. A life insurance policy's death benefit is income-tax-free to your heirs. The policy itself is payable with money you earn from a job or from investments. In fact, part of your retirement income could buy a death benefit that equals the sum total of your retirement savings. This would effectively allow you to pass on the total accumulated value of your retirement while still living off of some of that savings while you're alive.