11/06/2022
Did you know that when someone passes away, the family cannot withdraw the savings๐ฐon his/her bank account ๐ณ, right away?
The bank freezes the account and checks the tax obligations of the depositor. Then, his family should pay the ESTATE TAX before the proceeds can be released.
For how long??? Make sure you have extra cash and the patience to withstand the wait.
This is why VUL Life insurance is better. If the Insured passes away, the beneficiaries will not only receive million(s) of the guaranteed sum assured plus the returns of the said investment in the stock market, they don't need to pay extra. It's tax free. Nothing to lose, so much to gain...
Send me a message, anytime!
Miles Maristela
Licensed Financial Consultant, Pru Life U.K
Your trusted lifetime partner โค
Always listening, always understanding