Do I Need Life Insurance?
Probably the easiest way to answer this question is with another question:
Will your premature death have a financial impact on a business or another person?
The important thing to remember about life insurance proceeds is that in most cases they are received tax-free by the beneficiary (ies).
Typical Uses Of Life Insurance Proceeds:
- Final Expenses
- Retire Mortgage
- Business Continuation
- Retire Debts
- Income Source For Family
- Education Expenses
With life insurance you can accomplish your financial goals for your family whether you are here or not.
Many people who are responsible for the care of a sick or handicapped family member buy life insurance to guarantee this person continues to receive the needed care.
If you are a single person, the need for life insurance may not appear important to you at the present time, but you may want to consider whether or not your future plans may include a family.