Life Insurance Can Lower Taxes
Life Ant, a company that is devoted to helping people save money on life insurance, has just posted the results of a survey they conducted regarding people's knowledge of life insurance tax benefits.
LifeAnt.com, a company that is devoted to helping people save money by letting them compare life insurance quotes, has just posted the results of a survey they conducted regarding people’s knowledge of life insurance tax benefits. The survey found that most people did not know how life insurance can lower their taxes.
The survey measured both owners and non-owners of life insurance knowledge of the subject, and the results give surprising insight into how little people know. The survey results are released in the article titled “Most People Unaware That Life Insurance Lowers Taxes” and can be seen here http://www.lifeant.com/people-unaware-life-insurance-lowers-taxes/
The article reveals that even owners of life insurance are very unaware of the tax benefits of their policies. Shockingly enough, Life Ant found that “only 29% of life insurance owners realize that their death benefit is paid tax free”.
Furthermore, “only 9% of non life insurance owners know that dividends from life insurance policies are paid mostly tax free”.
Thomas Rockford, CEO of Life Ant, sees a need for a better informed public. He writes “Based upon the results of our survey, there is a clear need for more education about how life insurance is taxed. Perhaps more people would own this product which is so crucial to protecting their families financial security, and more people may be able to save on taxes if they do.”
The article goes on to detail exactly how life insurance can lower taxes. It notes that “Life insurance provides unique tax benefits to many people. People can grow their cash value within a policy without tax consequences, and then access their money through loans, withdrawals, and dividends with tax preferred treatment. You can also avoid or offset any estate taxes with the tax free death benefit unique to life insurance.”
As a provider of life insurance quotes, Rockford thinks the industry would be better served with a more informed public. “Long gone are the days when we would teach clients and create well informed consumers,” he says. “People are much more likely to seek these products when they are keenly aware of what they can do for them. It is the job of the financial advising industry to get the word out and show people how products like life insurance can be advantageous to their finances.”
Anybody who would like to learn more about how life insurance can help them lower their taxes is welcome to visit the LifeAnt.com website; there, they can read the article in its entirety as well as get a free life insurance quote.
Established in early 2013 by life insurance broker and financial adviser Thomas Rockford, LifeAnt.com hopes to become the top provider of life insurance quotes on the internet.