Life insurance companies

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How the rich use life insurance to save big on taxes — Business Insider Wealthy Life, Life Planning, Uncle Sam, Life Plan, Business Money, Business Insider, Financial Planning, Life Insurance, Economics

For the wealthy, life insurance is an unsexy yet powerful tactic for avoiding taxes. By putting the policy inside a trust, the death benefit is excluded from estate taxes. The payout goes to the trust, which pays Uncle Sam and protects the remaining assets from lawsuits.

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