"Life Insurance - It is food, clothing, education, and peace
of mind for
Life insurance is a simple answer to a very difficult question: How will my family manage financially when I die?
It's a subject no one really wants to think about. But if someone depends on you financially, it's one you cannot avoid.
|A life insurance policy is just a time-yellowed piece of paper, with columns of figures and legal phrases, until it is baptized with a widow’s tears. Then it becomes a modern miracle, a sort of Aladdin’s Lamp.|
It is food, clothing shelter, education, piece of mind.
It is the sincerest love letter ever written.
It quiets the crying of a hungry baby at night. It eases the heart of a bereaved window. It is the comforting whisper in the dark silent hours of the night. It is a new hope, fresh courage and strength for the widow to pick up the broken threads of life and carry on.
It is an education for the sons and daughters.
It is the premium we pay for the privilege of living after death.
There are many types of life insurance, but for all of them the bottom line is the same: It pays cash to your loved ones after you die, replacing your income and allowing the financial plans you put in place to continue uninterrupted. Life insurance payments can be used to cover daily living expenses, mortgage payments, outstanding loans, college tuition and other essential expenses. And, importantly, the death benefit proceeds of a life insurance policy are almost never subject to federal income taxes.
If you've worked hard to establish a solid financial framework for your family—investments, home equity, a savings plan, retirement accounts—life insurance is the foundation upon which it all rests. It can guard against the need to make drastic changes to future plans if the unexpected occurs. Certain types of life insurance even have a built-in savings feature that can help you reach asset accumulation goals.
Most Americans need life insurance, and many who already have it may need to update their coverage. This guide will help you sort through your options and show you how to find a plan that's right for you and your family.