Episode 96: The Many Uses of Life Insurance

On this week's new episode of the Our 2 Cents podcast, the guys are recapping Steve's recent appearance on WGN 9 news where he shared helpful tips for tax filing procrastinators. Then they outline 5 useful ways to include life insurance in your financial planning that isn't just about the death benefit. Listen in now!The Looming Tax Filing Deadline:Filing an extension - why it matters if you owe or if you are getting a refund.What you need to know now if you plan to use MyTax Illinois to file your state tax return.For those who took advantage of the child tax credit payments, how might that impact your taxes?Why your large refund is the same as giving an interest-free loan to the government.How tax planning is different from tax preparation, and how it can make a huge difference in your overall wealth.The Many Uses of Life Insurance:There are tons of misconceptions about what life insurance can offer in financial planning, which means many investors don't think about it outside of its traditional uses.We will cover other ways life insurance can be a critical part of your financial planning, beyond just the death benefit:Life insurance for tax-free retirement incomeLife insurance as an alternative to a 529 PlanLife insurance for estate planningLife insurance for long-term careLife insurance as a cash alternativeGetting to Know Steve and Gabriel:What is the spiciest food you've ever eaten?Do you think we're alone in this universe?