Life insurance offers several key benefits, including financial security by providing a death benefit that can replace lost income, ensuring your family maintains their standard of living. It helps cover debts such as mortgages, car loans, and credit card balances, preventing your loved ones from bearing these financial burdens. Additionally, life insurance can cover the high costs of funeral and burial expenses, relieving your family from this financial strain. It is also an essential part of estate planning, helping to preserve your estate and ensure a smooth transfer of wealth to your heirs. Lastly, in most cases, life insurance death benefits are not subject to federal income tax, providing a tax-free inheritance for your beneficiaries.
