Understanding Life Insurance
Life insurance is one of those things that is sometimes hard to talk about, and difficult to understand.
When you're shopping for life insurance it's important to get the advice of one of our experts. Make sure that you're making the right decisions for yourself and your family. Picking the right insurance for your unique situation will impact premiums you pay now and 10 years from now as well as the payout your family can expect.
The Primary Purpose of Life Insurance Is To:
- Replace income in the event of the death of a wage earner
- Pay debts (such as a mortgage) on death
- Pay final expenses
- Pay tax due upon death
- Create an estate
- Conserve an estate
- Maximize an estate
- Equalize an estate
- Provide an endowment to a charity
There are Two Main Types of Life Insurance: