Understanding the importance of life insurance is one thing. Understanding the tax rules is quite another. As insurance products have evolved and become more sophisticated, the line separating insurance vehicles from investment vehicles has grown blurry.
Obtaining a life insurance policy is part of being an adult. But it’s also something that you can easily neglect, especially if you obtained it earlier in adulthood. While you may have been diligent in securing your life insurance policy, failing to review or update the policy when you have significant life changes may result in too little or too much coverage.
Considering that long-term care can cost more than $50,000 per year, anyone who's in a caregiving relationship needs to understand the options for helping an aging family member.
