You’ll have ultimate peace of mind that when you pass your family and loved ones will have a financial safety net.
Life insurance will pay a lump-sum benefit to help with financial gaps left behind.
Payouts are generally tax free.
Some companies offer multi-policy discounts for taking out a joint policy with your spouse.
Coverage can generally be bundled with other types of life insurance.
Some brands let you increase or decrease the benefit of the policy in the future.
There are types of life insurance that have a cash value. A portion of the paid premium is set aside and either accumulates interest or is invested in the market. You can borrow from that cash value, or keep it as an end-of-life payout.
Most policies provide an advance benefit, without a waiting period, to help cover immediate costs following death.
As you get older and become more of a risk to the insurer, you may not qualify for a life insurance policy or will pay more.
Life insurance allows your family to focus on the family rather than where will we get the finances for this…