When it comes to life insurance, there are many different types of life insurance, to address different personal needs and wants. These can include term policies, whole life policies, and indexed universal life policies, each fulfilling a different purpose.

Why You Should Consider Having a Life Insurance Policy:

1) Life insurance can provide financial protections for your family’s future, covering expenses such as medical bills, funeral costs, debts, mortgage payments and tuition.

2) Life insurance can replace your income for your family in the event of your death, ensuring their financial stability and preventing immediate hardship.

3) Some types of life insurance policies can be designed to accumulate cash value over time, offering access to funds for temporary financial needs or unexpected expenses. These plans can also be used to pay for a child’s college tuition and/or supplement income in retirement!

4) Life insurance can be used for legacy planning, leaving a financial inheritance for loved ones or supporting your favorite charities (i.e. your alma mater, local animal shelter, etc).

5) Life insurance policies can be structured to help cover the taxes on other assets you’ve left to your beneficiaries, since the proceeds of life insurance policies may be tax-free.