Some of the most common functions of life insurance include:
1. To replace lost income upon the death of a main bread winner in a family.
2. To pay to replace lost services provided by the insured person who died.
3. To provide financial support to carry survivors through a time of transition and grief.
4. To buy a share of a business when one partner dies.
5. To provide money for a business to find and train a new key employee.
6. To pay off auto or mortgage loans or other debt, rather than leave them to your survivors to repay.
7. To borrow from cash value for college, retirement, or other living expenses.
8. To pass an estate from one generation to the next in a tax favorable manner.
9. To give money to charity.
10. To pay for funeral, burial, and other final expenses, such as, a headstone, memorial service, or casket.
Learn how term life insurance can provide affordable life insurance protection for your loved ones.
1. To replace lost income upon the death of a main bread winner in a family.
2. To pay to replace lost services provided by the insured person who died.
3. To provide financial support to carry survivors through a time of transition and grief.
4. To buy a share of a business when one partner dies.
5. To provide money for a business to find and train a new key employee.
6. To pay off auto or mortgage loans or other debt, rather than leave them to your survivors to repay.
7. To borrow from cash value for college, retirement, or other living expenses.
8. To pass an estate from one generation to the next in a tax favorable manner.
9. To give money to charity.
10. To pay for funeral, burial, and other final expenses, such as, a headstone, memorial service, or casket.
Learn how term life insurance can provide affordable life insurance protection for your loved ones.
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