Both types of life insurance payout in the event of the insured's death, but each one is applied to different needs. (usinsuranceagents.com)
It could take as little as two weeks to receive a life insurance payout if the policy is simple. (lifeinsurance.org)
The tax law is fair in the sense that it will usually not ask your designated beneficiary to pay taxes on your life insurance payouts when you pass away. (sapling.com)