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You are here: Tax Tips and Planning > Tax Tips For Affluent Persons > Estate Planning >
Life insurance is an essential estate planning tool because it provides immediate cash for survivors. Since proceeds are readily available, life insurance protects your family from being forced to liquidate some of your other assets to meet living expenses. Life insurance can also help your survivors pay debts, including estate taxes. Generally, insurance proceeds go directly to the beneficiary and do not have to go through the probate process.
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