Life Insurance
If you passed away today, would your family be financially stable?
The inevitable truth to life is death. The loss of a loved one, especially in untimely circumstances, leaves not only an emotional void, but oftentimes a financial one as well.
Life insurance allows you the peace of mind that in the event of your death, your income will be replaced. This gives your loved ones the time they need to grieve and cope with their loss.
Life insurance provides cash to your family after you die, and ensures your family is not burdened with debt. It can pay for final expenses such as the funeral, probate fees, unpaid bills, or any other wishes you have. In addition, beneficiaries will not have to pay federal income taxes on the money they receive from a life insurance policy.
It is recommended to have at least 10 years worth of your income in Life Insurance coverage; this will ensure that your family has enough money after a tragic loss to get out of debt, grieve, and make large purchases that secure their future such as furthering your spouse's or children's education and major home repairs.