Need Minnesota Life Insurance Quotes?

Purchasing life insurance in Minnesota 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 Minnesota life insurance.

Insolvency coverage is limited to $300,000 in life insurance death benefits but not more than $100,000 in net cash values 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 up to $20,000 plus $5000 per dependent if the beneficiary is the spouse or dependent of the insured. Unmatured life insurance contract dividends, interests, or loan value; up to $4000 is exempt if the insured is the debtor or someone the debtor is dependent on.

The Minnesota estate tax is designed to absorb the federal estate tax credit for state death taxes. No additional estate tax is imposed.

Additional Resources for Minnesota Life Insurance: