Five Life Insurance Mistakes That Can Haunt You

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Life insurance is an asset that can serve various purposes, for most people, it is a tool utilized for income replacement. While life insurance can be of great use, you should remember to keep an eye on it rather than just stuffing it away in a drawer.

Here are five life insurance mistakes that can cost you:

1. Rate increases

2. Affinity groups

3. Beneficiary designations

4. Estate tax

5. Crummey letters