Traditional life insurance can be harder to secure
Navigating the underwriting process for traditional term or whole life insurance can be an uphill battle for self-employed individuals. Traditional insurers typically demand a mountain of paperwork, including multiple years of consistent tax returns, profit and loss statements, and audited financial records to prove a stable income. For entrepreneurs who utilize legitimate write-offs and deductions to minimize their taxable income, their official records may show a much lower net income than what they actually bring home. This often results in being