The WealthAbility Show with Tom Wheelwright, CPA cover image

Insurance [6/7 Series]

The WealthAbility Show with Tom Wheelwright, CPA

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The Difference Between Mutual and Stock Companies

We can actually have our heirs own the policy. And therefore, it's not tax them. So we can get literally no tax. There are strategies we can use so that it's not only is it income tax-free, but it is a state tax-free. We call those islets or irrevocable life insurance trusts.

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