The Importance of Life Insurance

Take a moment and just think, if you were to transition tomorrow, would your household be in order or would you be leaving family members to pay for expensive funeral arrangements? What about remaining estate expenses left behind to be paid? Do you need to save money, pay off debt or buy a home? All of the above are examples of the Importance of Life Insurance.

Permanent life insurance provides both life and death benefits, along with cash value that accumulates over time on your policy. Term life is temporary and expires after a specified period and does not accumulate cash value, but fits the budget for those that may want a low premium such as a new family starting out that may have existing goals that a permanent insurance premium would not be conducive for budget.

We certainly do not want to lose our loved ones, but we don't want a financial hardship in the event one passes.

Remember employers offer their employees group life insurance. Do Not confuse group life insurance with permanent life insurance! Group life insurance provides coverage as long as your working for the employer. Once you leave or terminate from your employer, the coverage ends.