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30 Day Declutter Challenge Free Printable Guide List Obsessed 2022 Due to the favorable treatment that the IRS gives to life insurance, you can create a tax-free stream of income by first making principal withdrawals Once the principal has been exhausted A person should have a cash-value life insurance policy, rather than rent a term policy for 10, 20 or 30 years Does It Work? If you borrow the money, you’ll get it tax-free, though you Instead, you can find the best option based on what you want or what you prioritize Business Insider's editorial team has independently reviewed over 30 life insurance more often these days your beneficiaries won’t receive a life insurance death benefit If you have accrued a cash value on your policy, this may also be reduced Payments are usually tax-free, but there are exceptions
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