Life insurance comprises an important part of your financial plan for the future. The concept of life insurance may make you feel uncomfortable, considering the implications. However, it could very well be a life saver for your family in the event of your early demise.
Like any other insurance policy, life coverage entails paying monthly premiums for protection against illness or accident that results in your passing on. If you’re the main breadwinner of the family, you need to consider how your spouse and kids will manage after you’re gone. Life insurance helps provide financial assistance to help your family carry on.
Life insurance was never meant to replace a loved one who passes on. It can, however, help to replace lost income to ease financial pressures during the period of adjustment to your loss. This income can be used to pay house or car payments, your kids’ education and basic necessities after your demise. Having life insurance coverage will enable your loved ones to face the future with a more positive outlook once your support is gone.
For more information on life insurance, contact Allan M. Block Agency located in Tarrytown, NY.