Reasons to Maintain Life Insurance
Life insurance
is designed to protect your loved ones in the event of your death. Your beneficiaries may be your wife, your children or any other family members or partners with whom you have an emotional and financial obligation.
As a basic guide, consider the following ten items as bona-fide reasons to maintain life insurance:
1. Life insurance will free your family members from the burden of the loss of your income, debts owed, and daily expenses as the continue their lives if you should die.
2. It will secure your estate by providing tax free cash that can be used to pay estate and death costs and to shelter business and personal expenses.
3. Some life insurance policies retain a cash benefit, which can be available to you if you do not die prematurely. These funds can then be used to help support your retirement.
