Your future and the future of your family require a good deal of planning. One of the most important steps you can take in this planning is to purchase and maintain life insurance. Life insurance can help you provide for your family even after you are no longer living.
With life insurance the death benefit your family receives is income tax free. This benefit can be used for many things. It can be used to pay debt, funeral expenses, provide education, pay taxes on property or the closed estate you leave behind, among many other things your family might need.
In addition to personal expenses life insurance may be used to help pass along a business to your chosen heir. There are also certain types of life insurance that can help you out during your life time as well