Need South Dakota Life Insurance Quotes?

Purchasing life insurance in South 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 South 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, a life insurance policy or the proceeds, up to $10,000 are exempt, if the beneficiary is the spouse or child of the insured. Life insurance proceeds are also exempt if the clause prohibits the proceeds being used to pay the beneficiary's creditor(s).

For estates of decedents dying on or after July 1, 2001, South Dakota imposes an estate tax designed to absorb the federal estate tax credit for state death taxes paid. No additional estate tax is imposed.

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