Is Life Insurance Still Worth it After the 2014 Tax Changes?

Tax season is one of the most dreaded times of the year. You must prepare for it and gather all the reports regarding your earnings for 2013. And you have a fixed date until you must do that, otherwise, you will be penalized.

TaxesThis fiscal year brings some surprises. Some of them are unpleasant, some of them more pleasant. Most of them are related to paying more for taxes, if you are a high-earner. Other changes are related to Medicare plan.

If you try to balance all the expenses and deductions, you may wonder if life insurance is still worth it after 2014 tax changes.  Yes, all life insurance policies are still valid and very effective, including life insurance over 50.

First of all, those who earn more than $400.000 as individual or $450.000 as a couple will be the most affected. So, if you are not in this range, you have no serious reasons to fear.  Secondly, some discounts will be received if you work at home or your house is powered by solar panels.

You can save up to $1500 dollars if you work at home and 10% for energy expenses if you think green. So, what you pay for one tax will be deducted in another tax, or even more, you can save up some money.

Medicare will be taxed extra, with almost one percent. As you can see, changes are not related to life insurance.  So, you have nothing to fear about paying extra for life insurance.

You can always talk with a life insurance agent and that person will tell you more about the costs of life insurance premiums. Plus, you can always use the internet and compare prices Getting life insurance quotes is not only a trend, but an effective way to scan the market for the best possible deals.

Visit our website and we will help you track the best offers.