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Asset protection strategies, including term life insurance, can shield assets from creditors and lawsuits. Term life insurance, while not a direct asset itself, can be used in conjunction with other strategies to protect the death benefit from creditors or help pay off debts. 

Forced Sale: In some cases, the need to sell assets to cover expenses or debts can result in forced sales at less than market value. Life insurance can help avoid these situations by providing the necessary funds.

A term life insurance policy for at least the amount of your mortgage. Then, if you pass away during the "term" when the policy's in force, your loved ones receive the face value of the policy. They can use the proceeds to pay off the mortgage. Proceeds that are often tax free.

Some states charge their own estate taxes, which could be levied on much smaller estates.

The estate tax is based on the total value of a person’s entire estate, not just the liquid assets. This could cause a problem for some families, as it isn’t always simple to liquidate assets; if the deceased didn’t hold a lot of cash, they may be in trouble.

A life insurance policy, though, will pay cold, hard cash. If you have a sense of what your estate tax burden will be, a life insurance plan with a payout near that total would simplify estate tax payments considerably.

Access a portion of their death benefit while they are still alive, typically due to a qualifying medical condition such as a terminal illness. These benefits, also known as accelerated death benefits, are usually offered as riders or add-ons to a life insurance policy. 

A long-term care rider allows you to access your life insurance death benefit while you’re still alive if you have a chronic illness and are unable to complete daily living tasks, like bathing, eating or dressing. The money you receive can be used to manage your day-to-day care.

There are generally two types of long-term care riders:
Reimbursement riders will pay you back for what you spend on long-term care expenses, up to your policy’s monthly limit.
Indemnity riders pay out a predetermined monthly benefit, regardless of the actual long-term care expenses you incur. 

Ability to take loans against your death benefit... that you dont have to pay back...or pay tax pentalties on.

Life insurance can be vital in helping you save college funds for your children. Whether you're there or not.

In the event of your death, your family can choose to use the income tax-free death benefit to pay education costs. And with some types of life insurance, you can take loans against your policy without tax penalties.

Some insurance policies have market participation, so your policy’s value has the potential to grow based on the performance of investments in your policy

Some Insurance companies offer College Scholarships and book reimburesment. (Scholarship applicationsare required before dealine each year).

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