Life insurance can help your loved ones cover expenses they currently (or will someday) face if your earnings were no longer in the picture.
Some of the most common immediate and everyday expenses people use life insurance for include:
Funeral and burial costs
Estate settlement costs
Outstanding bills for healthcare
Health insurance
Mortgage or rent
Household upkeep expenses
Credit card debt
Car loans
Property taxes
Outstanding tax bills
Groceries
Utilities
Childcare expenses
Private school tuition
Costs to continue a family business
Charitable giving to houses of worship or other nonprofits
In addition to letting your loved ones maintain their standard of living now, life insurance also helps ensure their future. View some of the most common non-immediate expenses life insurance covers. More here.
