What is life insurance: Life insurance is protection against financial loss resulting from death. It is an insurance company's promise to pay your beneficiary a specific amount of money when you die in exchange for timely payment of premiums.
Why do you need life insurance: Although you may not think about it, your ability to earn income is a significant asset to your family and life insurance helps replace lost income in the event of your premature death. Life insurance may also be used:
- To replace income your family would need to maintain their standard of living after the death of a wage earner.
- To pay off a mortgage loan and other personal and business debts or to create a rent fund.
- To create a fund for children's education.
- To pay final expenses, such as funeral costs and taxes.
- To create a family emergency fund or a fund for a family member with special needs.
At Kolehmainen Insurance, we realize the need to plan ahead. Contact us today for a consultation about what life insurance policy will work best for your needs.
|
