For instance, a person may wish to provide money to his/her family after he passes away, so that they may continue to live the lifestyle they enjoyed while the insured person was still alive.
Other benefits may include:
1. Providing money for your spouse's retirement.
2. Money to pay living expenses.
3. Pay off the mortgage and car loan.
4. Pay off credit card debt.
5. Provide for your children's education.
6. Money to be left to charities.
7. To leave a trust fund for your children.
Life insurance can provide peace of mind for the insured, knowing his/her family will have financial security, also, it provides a replacement for the loss of income after an insured passes away.
Here's how you can compare life insurance rate quotes online among several leading life insurance companies to help you find affordable life insurance protection.