The primary reason for purchasing life insurance is for death benefit protection. It’s a great way to ensure your family has financial support when it’s most needed. The death benefit provided by a life insurance policy can help with immediate expenses such as:

  • Pay for funeral and final expense costs

  • Help pay the bills and meet ongoing living expenses

  • Pay off outstanding debt, including credit cards and the mortgage

  • Continue a family business

  • Finance future needs like your children’s education

  • Protect a spouse’s retirement plans

Life Insurance 101

It can also help to replace lost income, providing the loved ones left behind with a better chance of continuing their current lifestyle. Life insurance can also be useful as part of a diverse investment portfolio.


Universal and whole life products offer the opportunity to accumulate cash value, meaning a portion of the premium payment (the cash-value portion) earns interest. The gain in the cash value is tax-deferred until withdrawn. Cash values can be used to help pay for major life events, such as college tuition, down payments, starting a business, weddings, and more. Life Insurance also possesses income tax benefits and is often times used in estate planning.


say they haven't bought life insurance because

it's too expensive, yet overestimate it's true cost by over 2 times.

Source: LIMRA/LIFE Foundation 2013 Study

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