Life insurance offers a death benefit that is paid directly to your beneficiary tax-free when you die. It's a beautiful thing.
If you have a family that depends on your income and would suffer financially if you died, then you need life insurance. Call your local life insurance broker and shop the rates.
Life insurance depending on the type of policy can offer several things. The primary purpose of course is a tax free lump sum benefit to your loved ones when you die to replace income, payoff debt, educate your children, etc.
However, there are cash value plans such as a whole life policy for example that can do much more. Think of it as the Swiss Army knife of life insurance. The features can help with retirement, pay for a critical illness, long term care situation, college funds for children, etc.
I recommend sitting down with an experienced independent life insurance broker you trust and build a plan that takes care of your unique needs.
Life insurance offers that the the life insurance company will pay the beneficiary of your choice a predetermined amount of money, if you should die within a set period of time (which you could choose to be your lifetime), in exchange for a set premium that you pay on a predetermined basis.
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If you have a family that depends on your income and would suffer financially if you died, then you need life insurance. Call your local life insurance broker and shop the rates.
However, there are cash value plans such as a whole life policy for example that can do much more. Think of it as the Swiss Army knife of life insurance. The features can help with retirement, pay for a critical illness, long term care situation, college funds for children, etc.
I recommend sitting down with an experienced independent life insurance broker you trust and build a plan that takes care of your unique needs.