You hope the worst won’t happen, but sometimes it does. Is your family financially secure? If you’re not sure whether you need life insurance, consider these seven benefits of life insurance.
7 Benefits of Life Insurance
Life insurance can serve as the foundation of your family’s financial security. According to the Life and Health Insurance Foundation for Education (LIFE), life insurance can:
- Buy time – Allows loved ones to focus on their grief by helping to pay for the funeral and other final expenses.
- Provide a fresh start – Lets loved ones start with a clean slate by helping to pay off credit card bills, outstanding loans and even the mortgage.
- Generate income – Helps replace lost income for years to come so that surviving family members can continue to pay for life’s necessities.
- Offer flexibility – Gives a surviving spouse the chance to take time off from work or to switch to a job that offers a more flexible work schedule.
- Create opportunities – Can provide funding to start a business, or pay for schooling so surviving family members can train for a new career.
- Fund the future – Offers a way to fund longer-range goals, like a college education for the kids or a secure retirement for a surviving spouse.
- Leave a legacy – Gives parents the chance to leave future generations with the legacy of long-term financial security.
Interested in learning more? Schedule a time to talk to our agency. We can help ensure you have the right amount and type of insurance to protect the ones you love.
More information about life insurance is at LIFE’s Web site, www.lifehappens.org. LIFE is a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families’ financial futures.
Not all companies are licensed or operate in all states. Not all products are offered in all states. Go to erieinsurance.com for company licensure and territory information.