Leaving Your Lasting Legacy Want to do more with your wealth? You might want to consider creating a charitable foundation. Share | Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content Saving for Retirement This calculator can help you estimate how much you may need to save for retirement. When Life Insurance Becomes Taxable Life insurance proceeds are generally tax-free. But not in all cases. Variable Universal Life Insurance Variable Universal Life is permanent insurance in which the policyholder directs how premiums are invested.