The Importance of Life Insurance Planning
Life insurance provides financial security for loved ones in the event of your death, offering peace of mind during uncertain times. It serves as a safety net, ensuring that beneficiaries receive a lump sum payment or periodic income to cover expenses like mortgage payments, education costs, or daily living expenses. Choosing between term life and whole life insurance depends on your financial goals and family’s needs. Term life offers affordable premiums for a specified period, while whole life accumulates cash value over time. Evaluating coverage amounts and beneficiaries regularly ensures your life insurance policy remains relevant as your circumstances change.