9
votes
2answers
616 views

Employer wants a key man insurance policy on me, should I agree?

Friend is working for a small company as main person in charge of operations. The president is asking them to take out a key man life insurance policy on them. The benefit would pay out to the ...
4
votes
5answers
206 views

Is there a benefit, long term, to life insurance for a youngish, debt, and dependent free person?

Something that has been nagging at me lately. Let's take a person: 30 years old, US, non smoker, no significant medical problems No debt (of any kind, mortgage, student, or credit card) No plans to ...
26
votes
4answers
1k views

Will my children owe taxes on my life insurance proceeds?

I had always thought that life insurance proceeds were not treated as taxable income. From IRS publication 525: Life insurance proceeds paid to you because of the death of the insured person ...
7
votes
3answers
1k views

Does life insurance cover one's funeral costs, or should I save for it separately? How much?

What is common practice? What does it usually cost? Should I be thinking about this?