What is life insurance and do you need it?
Life insurance is an essential provider of financial protection for dependents that are left behind when an individual dies. After an individual’s death, the financial support he or she provided to the family ends, even though, of course, the family's need for income continues. Most families will have an ongoing need for housing, transportation, medical care, food, clothing, and possibly education and day care.
In addition to the above, life insurance has a number of other uses. It can be used to pay for one’s final expenses at death, and it can also be used to pay off a number of debts--a home mortgage, automobile loan, credit card, or any other debt that may have accumulated, relieving family members of the financial burden. It can also be used to pay off estate taxes--both state and federal--and can also actually be used to create an estate.
If you have questions about your insurance needs, we can help you make the right decision for you and your family.