Wisconsin State Life Fund


DEFINITION of 'Wisconsin State Life Fund'

A life insurance distribution system available to residents of Wisconsin. The Wisconsin State Life Fund is a state-sponsored life insurance program. The state of Wisconsin underwrites and sells life insurance policies to Wisconsin residents who apply for the policies. The Wisconsin State Life Fund is a nonprofit organization that receives no state subsidies, is not allowed to use commissioned agents, does not advertise and is exempt from federal income tax. As a result, the fund's overhead expenses are minimal.

BREAKING DOWN 'Wisconsin State Life Fund'

The Wisconsin State Life Fund was launched in 1911 in reaction to a scandal involving improper practices by some life insurance companies operating within the United States. The fund was set up to provide residents of Wisconsin with access to life insurance at the lowest possible cost.

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  1. Do beneficiaries pay taxes on life insurance?

    Generally speaking, when the beneficiary of a life insurance policy receives the death benefit, this money is not counted ... Read Full Answer >>
  2. Can I borrow from my annuity to put a down payment on a house?

    You can borrow from your annuity to put a down payment on a house, but be prepared to pay an assortment of fees and penalties. ... Read Full Answer >>
  3. What are the biggest disadvantages of annuities?

    Annuities can sound enticing when pitched by a salesperson who, not coincidentally, makes huge commissions selling them. ... Read Full Answer >>
  4. What are the risks of annuities in a recession?

    Annuities come in several forms, the two most common being fixed annuities and variable annuities. During a recession, variable ... Read Full Answer >>
  5. How can I determine if a longevity annuity is right for me?

    A longevity annuity may be right for an individual if, based on his current health and a family history of longevity, he ... Read Full Answer >>
  6. Can your life insurance company sue you?

    A life insurance company generally cannot sue you, but it can sue your estate. The company may do this in order to recover ... Read Full Answer >>

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