Life Insurance Info


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Life Insurance

Uses of life insurance?


Individual Uses

 
  • Funeral - Life insurance proceeds can ensure that there is enough money for proper funeral and burial expenses.
  • Debt - Personal bills, credit card debt, student loans, and personal notes can be covered by life insurance in the event of an individual's death.
  • Mortgage Protection - The proceeds of a life insurance policy can pay off the balance of a mortgage or provide an income stream to pay monthly mortgage or rent payments.
  • Income Replacement - In the event of an individual's death, life insurance proceeds can provide a supplemental income stream to ensure that the surviving family members are able to maintain the same standard of living.
  • Education - Life insurance proceeds can ensure that the education costs of the insured's children are covered.
  • Taxes - Federal estate and state inheritance taxes can be pre-funded using life insurance to preserve the value of an estate.
  • Donations/Gifts - An individual can use a life insurance policy to fund a donation to a charity or leave a gift to a family member.

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Life insurance info center :

Uses of life insurance
Determining your needs
Types of life insurance
Beneficiary designations
Settlement options

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