Life Insurance

Nobody likes to think about it, but the question deserves to be addressed and answered. "How will my family manage financially when I die?"

If someone depends on you financially, it's a question you simply cannot avoid. 

There are many types of life insurance, but for all of them the bottom line is the same: It pays cash to your loved ones after you die, replacing your income and allowing the financial plans you put in place to continue uninterrupted. Life insurance payments can be used to cover daily living expenses, mortgage payments, outstanding loans, college tuition and other essential expenses. And, importantly, the death benefit proceeds of a life insurance policy are almost never subject to federal income taxes.

If you've worked hard to establish a solid financial framework for your family—investments, home equity, a savings plan, retirement accounts—life insurance is the foundation upon which it all rests. It can guard against the need to make drastic changes to future plans if the unexpected occurs. Certain types of life insurance even have a built-in savings feature that can help you reach asset accumulation goals.

Most Americans need life insurance, and many who already have it may need to update their coverage. This guide will help you sort through your options and show you how to find a plan that's right for you and your family.

 Common Excuses That Shouldn't Stop You From Getting the Coverage You Need

"It's Too Expensive."

Not having any or enough life insurance coverage could be more costly to your family.
"l Haven't Gotten Around to it."

There are no guarantees in life, so don't procrastinate.
"I Prefer to Put My Money Elsewhere."

Might work if you're sure you're going to live a nice long life.
"I Worry About Making the Wrong Decision."

A qualified insurance professional can answer all your questions and guide you through the buying process.
"The Coverage I Have Through My Employer Is Sufficient."

Typically, employers provide a modest amount of coverage, and it can be costly to take with you when you leave.