It is a given that any financial plan worth its salt should include life insurance.
If the unexpected were to happen:
There are many different types of life insurance policies. In many cases a simple, straightforward, and very affordable term life insurance policy may fit the bill, but other options are available.
A life insurance policy with a death benefit equal to the remaining mortgage on your home will allow your family to remain in their home.
If you are approaching retirement age but do not have enough saved, a life insurance policy may help supplement your retirement income, yet still provide death benefit protection.
Concerned with the possibility of a future extended illness and the costs involved, you also want to pass along an inheritance. A life insurance policy with “living benefits” can help you achieve both goals.
Being the prudent individual that you are you have an emergency fund. After careful consideration you begin to wonder if the fund is reaching its full potential. A life insurance policy will provide death benefit protection, the potential to accumulate cash value, and will allow you to have access to funds later in life if and when needed.
48% of Americans do not have life insurance as part of their financial plan. With a little homework and a trusted advisor, life insurance may help put your worries aside.