Need Alabama Life Insurance Quotes?

Purchasing life insurance in Alabama is an important matter and as such, it deserves significant thought and consideration. Several factors may affect your decision regarding the type and amount of life insurance that you choose to purchase. Regulations regarding life insurance vary from one state to the next. Be sure to consider the following facts, when considering the purchase of Alabama life insurance.

Insolvency coverage is limited to $100,000 in cash values or $300,000 for all benefits in the event that your insurance provider is unable to fulfill your policy.

In terms of debt collection regarding assets, life insurance proceeds are exempt; if there is a clause that prohibits the proceeds from being used to pay the creditors of the beneficiary as long as the beneficiary is someone other than the policy owner. If the policy owner is the beneficiary, the proceeds are not exempt under this statute.

Alabama's estate tax law does not provide for an additional estate tax. This means that if you are a resident of Alabama at the time of your death, the tax is imposed in the same way as federal estate tax law.

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