The Importance of Life Insurance
Of course, one of the most common reasons to buy life insurance is to replace your income that your family depended on in the event you die.
Life insurance can be an important part of your financial plan that helps to ensure a more secure financial future for your loved ones when you are not around to provide for them.
Life insurance assists in covering unexpected final expenses such as medical and other bills, along with funeral and cremation or burial costs. It will leave your family with a more secure feeling especially during this life changing transition.
Life insurance can pay off their mortgage or reduce its balance. It can also serve as a college fund or an inheritance for your children.
You may need to use the life insurance to pay the estate tax associated with the inheritance depending on the state you live in and its amount.
You may also find it important to use some of your life insurance to fund a favorite charity when you are gone. This can help ensure your philanthropic goals are met after you die.
Discussing your financial goals with a life insurance agent can help you find the best type of policy and benefit to meet your needs.
Live with a peace of mind by making sure your loved ones will be financially secure if you were to die. Contact Plan IV today to discuss your options or reach out to us on our contact form.
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