Life Insurance

A death in the family is not only emotionally devastating, it can also take a tremendous toll on their future financial security. Suddenly, without the deceased’s income, paying the mortgage or providing for a child’s college education may become much more difficult.

Buying life insurance ensures loved ones are taken care of financially. Life insurance is a promise by an insurance company to pay those who depend on you a sum of money upon your death. In return, you make periodic payments called premiums. Premiums can be based on factors such as age, gender, medical history and the dollar amount of the life insurance you purchase.

In the event of your passing, life insurance provides money directly to the individuals you select, your beneficiaries, who can use the money as they see fit, including:

• Covering basic living expenses
• Replacing lost income
• Paying household debts, estate taxes and funeral expenses
• Funding a child’s education
• Supplementing retirement savings