A life insurance trust is a legal agreement that allows a third party to manage the death benefit from a life insurance policy. A trust ensures that your policy's death benefit is distributed to your ...
In simple terms, life insurance pays an agreed sum of money to people you choose (your beneficiaries) if you die while the policy is in force. You must pay a monthly premium for this. How much you ...
If you are the beneficiary of a life insurance policy, the payout — known as a death benefit — is typically tax-free. There are some exceptions, however. Here's what you need to know about ...