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Why Buy a Life Insurance Policy?
Most financial experts consider life insurance to be the cornerstone of financial planning. Life insurance is very valuable, especially in the following situations:
Replacement of your income: You mostly likely have loved ones who depend on you and your income. Life insurance can replace that income when you die.
Life insurance will pay your final expenses: Life insurance can be used to pay end-of-life expenses such as burial and funeral costs, debts and medical expenses not covered by health insurance.
Establish a inheritance for dependents: Life insurance can provide a meaningful inheritance for your loved ones.
Pays final taxes: You don’t want to be a burden on family members when you’re gone. Life insurance can be used to pay federal and state death taxes.
Contributions to charitable organizations: Name your favorite charity as your beneficiary and you’ll be able to leave them a larger amount of money than if you donated cash from other sources.
Some life insurance contains a built in savings component that accumulates cash on a tax-deferred basis. You can use that cash value for any reason you choose.
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Need Help?
1-800-638-8565
Weekdays 9a.m. to 7 p.m. ET.
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Service Center
Questions? Talk to an insurance professional by calling 1-800-638-8565 any weekday 9 a.m. to 7 p.m. Eastern time.
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