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Life insurance: what’s the purpose?

Hearing the term “life insurance” can make some people cringe.


DANMAR

But did you know that life insurance is one of the cornerstones of any financial plan? It provides income replacement, but it can also take care of other financial obligations we accumulate during our lives, like clearing off a mortgage in the event of a death.

Dollar for dollar, it is the most effective financial tool to help with intergenerational wealth transfer.


Can you imagine a tool that provides liquidity within 30 days of a death? That is tax free to the beneficiaries? That can be used as the beneficiaries please? That can pay off a terminal/final tax liability?


That can even lower the amount of taxes owing on an estate when using certain postmortem tax planning strategies?


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