When looking at life insurance illustrations or the actual policy documents, you'll see some version of "Please seek the advice of your tax professional..." in numerous places. But why? Is it really necessary for you to go over every possible financial decision or potential purchase of a potential product with a tax professional?

Well, that's up to you, but in our experience, that would be pretty costly and unrealistic. Not that seeking professional tax advice is a bad idea. Still, in many cases, insurance companies add these disclosures or warnings as a CYA tool because they can't possibly know of every person's situation--the sources of income you have, how much of it you have, what deductions you might have, etc.

Today we discuss when it might be a good idea to seek professional tax advice and what you can expect from most tax professionals when guiding you on a life insurance purchase.  __________________________________ It's a new year, and we know that many of you listening to our podcasts probably are thinking about your finances and still pondering the big question..." will some sort of cash value life insurance work for me?" If that's you, please click here to get in touch with us; we can help you figure that out pretty quickly and guide you on the right policy if, in fact, if is a good fit for you.