Why Life Insurance Matters

Life insurance provides a tax-advantaged lump sum (called a death benefit) to your beneficiaries if you pass away while covered. It can help replace income, pay off debt, fund education, and provide peace of mind.

Types of Life Insurance
  • Term Life: Coverage for a specific period (e.g. 10, 20, or 30 years) with generally lower premiums.
  • Whole Life: Lifetime coverage with fixed premiums and a cash value component.
  • Universal Life: Flexible coverage with adjustable premiums and potential cash value growth.
How Much Coverage Do You Need?

Many families consider coverage of 5–10 times their annual income. The right amount depends on your debts, dependents, and long-term goals.

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Common Uses of Life Insurance
  • Mortgage and debt payoff
  • Income replacement for your family
  • Children’s education fund
  • Final expenses and legacy gifts