Learn about inheritance tax on life insurance. Understand determining factors, exemptions, tax implications, and strategies to minimize tax liability.

You cannot include term life insurance in your net worth while you are alive. The proceeds from the sale become taxable estate after your death. Do most rich inherited their money? 74% of millennials ...

Term life insurance offers coverage for a defined period, which is typically 10 to 30 years. This is often more affordable but only pays out if the policyholder dies within its term.