1. 3998 POINTS
    Matt BenorePRO
    Founder, DenverWest Insurance Professionals, Inc.,
    Life Insurance is about meeting a Financial need, providing support when the insured dies.  Life Insurance pays a benefit known as the death benefit to a beneficiary tax-free.  Life Insurance is used to replace lost income for a father that has a family who dies prematurely, to provide monies to help the kids get to college if a covered spouse dies.

    Life Insurance is also used in businesses to provide protection for the business in the event of an owner passing away or a key employee who dies.

    Life Insurance provides tax-free monies to your estate or when properly funded will provide tax-free income to help supplement your retirement income.

    As you can see, there are many uses that Life Insurance is utilized for.  If you have a specific question on how you might consider using life insurance, please contact your broker.
    Answered on January 14, 2014
  2. 63333 POINTS
    Peggy Mace, Certified Senior Advisor (CSA)®PRO
    CEO, Outlook Life, Inc, Most of the U.S.
    Life insurance is about paying money to beneficiaries when the insured person dies. Property insurance pays when something happens to your property, health insurance pays when something happens to your health, disability insurance pays when something happens to your ability to work, and life insurance pays if something happens to your life. However, some life insurance policies also have cash that can be accessed while you are alive.
    Answered on January 15, 2014
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