Why is Investing in Life Insurance Policy is Important for Estate Planning?

Life is uncertain! No one can predict. Buying a life insurance policy for estate planning provides financial support by covering lost income, estate taxes, and other potential benefits for your beneficiaries. “In 2023, there were 134.2 million individual life insurance policies active, according to the American Council of Life Insurers (ACLI), and more than 118 million people were covered by group life insurance. ( source ) In this blog, we will explore the benefits of life insurance in estate planning . So keep exploring. Life Insurance: An Estate Planning Tool It is called an estate planning tool, as it plays an indispensable role in providing a financial benefit to your beneficiary if something unfortunate happens to you. Life insurance for estate planning allows financial security support to the dependents by meeting expenses and paying estate tax and debts. It matters in estate planning as it offers a number of benefits. Benefits of Life Insurance in Estate Pl...