Life insurance doesn’t benefit the person who passes, it benefits the family left behind. There are many reasons why we need life insurance, so it’s important to consider your own personal situation. This is a great way to protect your family and your assets in the event of your death. Provide the financial security your family deserves
You may want to buy life insurance as mortgage protection. Term life insurance can be used to pay off an outstanding mortgage balance. Some insurance carriers offer decreasing term insurance, which decreases the death benefit along with your mortgage balance.
Medical bills. funeral expenses, burial costs can add up; the last thing you want is for your loved ones to shoulder this burden. Life insurance can be used to plan for these final expenses
Help fund your child’s college education. If you die, the death benefit may be invested and potentially grow to the needed amount by the time your children reach college age. Feel better knowing that you helped prepare for their future − even if you are not there to see it.