Whether or not you purchase life insurance requires you ask the following question: How will my family support themselves financially when I die?
It’s a subject no one really wants to think about. However, life insurance can create an immediate cash fund for your loved ones. So, even in the case of an untimely death, financial security for your family is possible. In the event of a tragedy, life insurance proceeds can:
Pay for funeral 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 such as your children’s education