The policy is relatively inexpensive for a permanent life product and the proceeds are income tax free, making it an excellent option for funding irrevocable life insurance trusts. (termlife2go.com)
For more information on using irrevocable life insurance trusts in estate planning, contact MEG Financial now at (877) 583-3955. (termland.com)
Other strategies include the use of irrevocable life insurance trusts, and giving the cash benefit to your heirs as a gift while you are still alive if the amount you will be giving is less than a million dollars. (usacoverage.com)