Need North Dakota Life Insurance Quotes?

Purchasing life insurance in North Dakota 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 North Dakota 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, life insurance proceeds payable to a deceased's estate, and not to a specified beneficiary, are exempt. A life insurance policy surrender value up to $100,000 is exempt, if the beneficiary is the insured's relative and the policy was owned over one year prior to filing for bankruptcy. The exemption is unlimited if more than $100,000 is needed for support.

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

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