Life insurance protects families and businesses from financial loss associated with the death of a loved one or key employee and as a financial tool for retirement planning.
Life insurance enables individuals and families of all income brackets and lifestyles to maintain financial independence in the face of financial hardships. Coverage is just as important for two-income families as it is for single-income families. Stay-at-home parents also need protection to help cover the costs of services they routinely provide, such as cooking, cleaning, and caring for children. Retirees who are living on limited income also find peace of mind knowing that an aging spouse will not be faced with a financial burden after their death.
- Protects families by providing benefits to survivors when a primary wage earner dies.
- The money from a life insurance policy can be used to help families to cover expenses such as mortgage payments, tuition, or sending children to college. Often the benefits from a life insurance policy can keep a family from poverty and welfare.
- Businesses use life insurance to protect jobs and families from financial hardships that can result from the death of an owner or key employee.
- Businesses use life insurance to protect against financial uncertainty and secure employees’ futures.