Life insurance policies will protect your beneficiaries with financial stability and security when it matters most. In the event of your passing, life insurance provides financial help to your beneficiaries. Life insurance can help your beneficiaries with:
- Covering any lost income, helping continue the same standard of living
- Paying off any debts
- Paying for your children’s education
- Covering funeral and related costs
Which is right for you? First, always ask yourself why you need your life insurance policy and what you’re trying to accomplish by having a life insurance policy. Are you insuring your life so that when you pass away your children will be able to go to college or so your spouse will be able to pay off the mortgage? A temporary form of life insurance – term life – is well suited for these concerns.
