The Facts About Life Insurance

Purchasing life insurance is one of the most important financial moves you can make for your family and those that rely on you. The premium you pay for life insurance is in direct exchange for death benefits paid to your beneficiaries. Life insurance will provide you with assurance that your loved ones will not be burdened financially upon your death.

It’s not a subject that most people want to talk about, but if your loved ones depend on you, it’s not a subject that should be ignored. If tragedy occurs, life insurance benefits can help:

  • Pay funeral expenses
  • Pay for ongoing living expenses and monthly bills
  • Pay for the mortgage and credit card debt
  • Fund your children’s college education
  • Safeguard your spouse’s retirement
  • Carry on a family business
What Type of Policy is Right for You?

Deciding the right life insurance product for you can be confusing. The biggest factor to consider is time.

With whole life insurance, you are covered over your entire lifetime. This type of policy allows you to borrow from it over your life, too. Whole life insurance can even be a part of your estate plan.

Term life insurance is in place for a set amount of time. This type of policy is less expensive, but provides your family with financial protection when it is most at risk, such as when you have a mortgage to pay and dependents relying on your income.

There are other options to take into consideration. Child life insurance policies provide financial aid to cover medical costs for the death of a child. Other options include accident death, critical illness, long-term care policies, final expense coverage and disability insurance.

Any life insurance policy can be a good investment for you.