A $1 million life insurance policy provides a significant tax-free death benefit to beneficiaries, often costing less than $2/day for healthy individuals.
The cost and structure of a million-dollar policy depend heavily on the type chosen. Independent brokers like Mozdex or agencies like PHP Agency offer various options:
: Most financial experts suggest using the "Human Life Value" method, which looks at current income and expected future earnings to determine if a million-dollar policy is appropriate.