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  • Home
  • About Us
    • Meet our Team
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
  • Blog
  • Service
    • Policy Review
    • Update Contact Info
    • Life Insurance Application
    • Request a Free Consultation
  • Individual
    • Life Insurance >
      • Term Life Insurance
      • Whole Life Insurance
      • Final Expense Insurance
      • Individual Life Insurance
    • Medicare
    • 529 Plan Alternatives
    • Social Security
    • Disability Income Insurance
    • Annuities
  • Business
    • Life Insurance Options for Businesses
    • Disability Insurance Options for Businesses
    • Medicare Educational Seminar
    • Social Security Educational Seminar
    • Group Life Insurance
    • Executive Plans
  • Contact Us
    • Schedule Appointment
    • Location & Contact Information
    • Careers

our Blog

10 New Tax Breaks...and 10 That Went Away

6/5/2018

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In December 2017, lawmakers passed the Tax Cuts and Jobs Act (the “Act”), a sweeping tax reform law that impacts you.

First, let's start with three tax concepts that were left intact:
1. Tax-free death benefit of life insurance.  Your beneficiaries can receive life insurance proceeds
free from income tax with very few exceptions.
 2. Tax-deferred growth of life insurance cash values.  You can grow cash values in your life insurance policy
tax-deferred, making permanent life insurance a great part of your financial portfolio.
 3. Access to cash value without current taxation.  When properly structured, life insurance policy cash
values may be accessed through loans and/or surrenders to basis without current taxation.

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