Need Alaska Life Insurance Quotes?

Purchasing life insurance in Alaska 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 Alaska life insurance.

Insolvency coverage is limited to $300,000 in life insurance death benefits but not more than $100,000 in net cash surrender and net cash withdrawal values for life insurance in the event that your insurance provider is unable to fulfill your policy.

In terms of debt collection regarding assets, unmatured life insurance and annuity contracts are exempt. If the contracts have accrued dividends and loan values available to the individual aggregating more than $12,500, a creditor may obtain a court order requiring the individual debtor to pay the creditor, and authorizing the creditor on the debtor's behalf to obtain payment of, the amount of the accrued dividends and loan values in excess of $10,000 or the amount of the creditor's claim, whichever is less. However, proceeds that are paid or payable on the death of an insured, if the individual was the spouse or a dependent of the insured, are not exempt.

Alaska imposes an estate tax equal to the state death tax credit under the federal estate tax law. There is no additional Alaska estate tax imposed on life insurance proceeds.

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