rp_Fotolia_26676806_M-e14108133919681.jpgWhy Do You Need Life Insurance?

If you died during your earning years, how would your family replace your lost income? Your family would still have to pay its regular bills and maintain the standard of living you would want for them. Life insurance is the foundation of any solid financial plan. It provides valuable protection in the event that you pass away during your earning years.  Life insurance coverage should be considered at certain life events such as marriage, starting a family, buying a home, starting a business or supporting aging parents.  Whether you use term life insurance or a permanent policy, you can take comfort in knowing that your loved ones will be protected in the event of your death.   Life insurance can provide your loved ones with the funds they need to:

  • Pay final expenses (i.e. funeral, medical bills)
  • Pay off personal debts (i.e. credit cards, mortgage)
  • Replace your income
  • Maintain their current lifestyle
  • Create a college fund
  • Provide for financial emergencies
  • Provide for childcare and domestic maintenance
  • Pay estate taxes

The death benefit paid to beneficiaries is tax-free in most cases!

There are many other ways that life insurance can be utilized.  See how life insurance can be used for charitable giving, business planning , retirement planning and more by clicking here.

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