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Life Insurance

Life Insurance is a contract where the insurance company pays a decided sum of money to specific beneficiaries when the insured dies.

There are 2 types of life insurance Term Life Insurance- policies that last for a set number of years such as 10 or 20 years. Permanent Life Insurance- which will last the insured’s whole life. These policies build cash value and can be used as an investment strategy to utilize living benefits as well as a way to protect families from financial crisis when the insured dies.

Life Insurance can be a solution to many problems:

  • Cover cost of final expenses
  • Supplement income
  • Mortgage Protection
  • Build a tax-free retirement plan
  • Leave behind a legacy
  • Cover estate taxes for wealthier individuals