Life insurance can help your loved ones:
Pay for funeral and burial expenses
Cover mortgage or rent
Replace lost income
Pay off debts (credit cards, loans)
Fund college or future expenses
Maintain their standard of living
Main types of life insurance
Term Life Insurance
Coverage for a specific period (10, 20, or 30 years)
Typically more affordable
Designed for temporary needs (kids, mortgage, income replacement)
Permanent Life Insurance (Whole Life, Universal Life, IUL)
Coverage for your entire life
Can build cash value
Often used for long-term planning, wealth transfer, or final expenses
Who needs life insurance?
Life insurance is often recommended if:
Someone depends on your income
You have children or a spouse
You own a business
You want to leave a financial legacy
You want to cover final expenses and avoid burdening loved ones