Life insurance is a financial product that provides a death benefit to the policyholder's beneficiaries upon the policyholder's death. The death benefit can be used to cover a wide range of expenses and risks, including:
Final expenses: The death benefit can be used to cover expenses such as funeral costs, burial expenses, and outstanding debts.
Lost income: The death benefit can be used to replace the income that the policyholder provided to their family or to cover expenses that were dependent on the policyholder's income, such as mortgage or rent payments.
Education expenses: The death benefit can be used to cover the cost of education for the policyholder's children or dependents.
Business protection: A business owner may purchase life insurance to provide financial protection for the business in the event of their death, such as to cover the cost of finding a replacement or to fund a buy-sell agreement.
Estate planning: The death benefit can be used to pay estate taxes and other expenses associated with the transfer of the policyholder's assets to their beneficiaries.
Charitable giving: The death benefit can be used to make charitable gifts or donations, either through the policyholder's will or through a charitable trust.
It is important to carefully consider the risks and expenses that life insurance can cover when selecting a policy and determining the appropriate amount of coverage. A financial advisor or insurance professional can help you understand the different risks that life insurance can cover and how to choose the right policy for your needs and budget
My goal is simple, protect what is important to you. I focus my energy on discovering your exposure to risk and building a comprehensive plan to protect you against those risk.