Need Ohio Life Insurance Quotes?

Purchasing life insurance in Ohio 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 Ohio 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 are exempt if there is a clause that prohibits the proceeds from being used to pay beneficiary's creditors. Life insurance proceeds that are designated to a spouse are exempt

The basic Ohio estate tax is imposed on the value of a resident decedent's gross estate, minus deductions and any exemptions. Ohio also imposes an additional estate tax designed to absorb the federal estate tax credit for state death taxes.

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