Need South Carolina Life Insurance Quotes?

Purchasing life insurance in South Carolina 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 South Carolina life insurance.

Insolvency coverage is limited to $300,000 in life insurance death benefits, in the event that your insurance provider is unable to fulfill your policy.

In terms of debt collection, the benefits accruing under a life insurance policy after the death of the insured, are exempt. Life insurance proceeds up to $4,000, are exempt, if the insured was someone debtor depended on for support. The proceeds and cash surrender values of a life insurance policy, which is payable to the beneficiary is exempt, if the policy was purchased within two years of filing for bankruptcy. Group life insurance proceeds are exempt. An unmatured life insurance policy is exempt.

South Carolina's 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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