Life Insurance 101

Who Needs Life Insurance?

Do you Need Life Insurance?

Life insurance is a method to protect your family or dependents with financial support after you have passed on.  Life insurance pays a benefit to the named beneficiary(ies).  As time has progressed, it has developed into an estate planning tool that includes tax-free investments and wealth protection.

Who Needs Life Insurance FAQ

You may have questions like when should I purchase life insurance; is it only for people with families?  In this section, we will explore various situations that can help you decide.  It is always best to consult with a financial advisor prior to purchasing any policies.

Do I need life insurance if I don’t have any dependents?

There are many reasons for securing life insurance.  One of them is to take care of funeral and expenses related to a final illness.

When should I buy life insurance?

There are a number of factors that contribute to this answer.  Importantly, the younger and healthier you are, the lower the cost will be.  Whether you need life insurance includes:

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Why you want the coverage

Protect assets, provide for family needs, or to increase wealth.

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Life stage

Starting a business, family issues, buying a home, etc.

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Age