Monday, September 28, 2009

Why Is Life Insurance Important?

Why is it important to own a life insurance policy?

Life insurance can be important for a number of reasons.

Life insurance is a contract that guarantees, subject to the terms of your policy, that your beneficiaries will receive a specific amount of money of you die.

That means life insurance can provide financial security for your family in case you are no longer there to provide for them.

In a way, it can work to replace your income, if the money received from the life insurance policy is invested wisely.

The money received from life insurance can be used for any purpose, including paying the mortgage, living expenses, college tuition, retirement for your spouse, vacations, food, estate taxes, your funeral and burial, etc.

Life insurance provides a way for you to pay off your outstanding debt, replace your income, and provide a financially secure future for your loved ones.

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