New answer on: Why Do Rich People Need Life Insurance?

By: Larry Gilmore

Larry Gilmore — Thu, 30 May 2013 03:59:53 +0000

Why do rich people need life insurance? Because they see the value in creating dollars for pennies. People with wealth have always been big purchasers of life insurance and yes, cash value life. There are numerous tax advantages and legal advantages to owning cash value life insurance that other products simply don't have.

By: Edward Harris

Edward Harris — Thu, 30 May 2013 03:50:57 +0000

People need life insurance for different reasons. Naturally, a tax-free death benefit helps settle estates, pay bills and provide lost income. And of course, protecting wealth makes financial sense. There are many other reasons and a full-time broker will review with you what type of life insurance you should have and what is the least expensive way to buy it.