Life insurance can give you financial confidence that your family will have financial stability in your absence.

 

  • Income replacement for years of lost salary

  • Paying off your home mortgage

  • Paying off other debts, such as car loans, credit cards, and student loans

  • Providing funds for your kids’ college education

  • Helping with other obligations

Different kinds of policies can provide other benefits as well:

 

  • There are tax advantages of life insurance, because death benefit payouts are generally tax free; and some policies have features that can help transfer money to heirs with fewer tax liabilities.

  • Some policies have a cash value that accumulates over time and can be used to pay premiums later, or even tapped into to help live on in retirement.

  • Life insurance can often be bundled with other types of protection, such as disability insurance to replace a portion of your salary if you’re unable to work.

  • Many policies have valuable “riders” or contractual provisions that provide benefits before death.