Reasons why you need life insurance

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DESCRIPTION Insurance is designed to protect a person and the family from disasters and financial burdens. There are many kinds of insurance of which, the basic and most important is considered to be life insurance.


<ul><li> 1. Reasons Why You Need Life Insurance </li> <li> 2. Life insurance provides funds to pay-off creditors, living expenses, childrens education etc. </li> <li> 3. It offers protection to thefamily you leave behind and serves as a cash resource. </li> <li> 4. It secures your hard earnedestate on death by providing tax free cash. </li> <li> 5. This money can be used to pay estate and death duties. Also pay off any business and personal expenses. </li> <li> 6. Life insurance can have a savings or pension component that provides for you duringretirement (not recommended as an investment strategy). </li> <li> 7. Some policies have riders like coverage of critical illness orterm insurance for the children or spouse. </li> <li> 8. There are certain rules regarding eligibility for riders which you will need to know.Check with your Insurance agent for clarification. </li> <li> 9. Having a valid insurance policyis considered a financial asset. </li> <li> 10. In case of bankruptcy, the cash value as well as death benefitsof an insurance policy is exempt from creditors. </li> <li> 11. Life insurance can be plannedsuch that it will cover even your funeral expenses. </li> <li> 12. Term life insurance has doublebenefits, it protects and you can get your money back during strategic points in your life. </li> <li> 13. Insurance protects your business from financial loss or any liabilities in case a business partner dies. </li> <li> 14. It can contribute towardsmaintaining a familys life style when one contributing partner suddenly dies. </li> <li> 15. Hope you find this information helpful.Visit for more tips </li> </ul>