Life insurance is a crucial step in planning for your future and your family’s future. It can fulfill promises and obligations to your family if you are no longer here.
The death benefit is normally passed to your beneficiary income-tax free and can be used to cover funeral expenses, repay debt, cover education costs, pay estate taxes or any other expenses your beneficiaries might incur.
Life insurance may also be used to help ensure that a family business will pass to your intended heirs. There are also other living benefits available with some life insurance plans which you can take advantage of during your lifetime.
Q: How much life insurance should an individual own?
Q: What about purchasing life insurance on a spouse and on children?
Q: Should term insurance or cash value life insurance be purchased?
Q: How does mortgage protection term insurance differ from other types of term life insurance?
Q: Can an existing life insurance policy be used to provide for the repayment of an outstanding mortgage loan?