10 Good reasons to buy Life Insurance!

1. Survivor Benefits
2. College Funding
3. Retirement Funding
4. Mortgage Protection
5. Probate Avoidance
6. Business Continuity
7. Estate Planning
8. Juvenile Foundation
9. Divorce decree
10. Charitable Gift

Life Insurance:  
It's for the living!

You buy life insurance to protect what you love, whether it is a person, a family, a business or a charity.

• Protection

• Growth

• Tax Advantages

By Raymond C. Horton

You buy life insurance to protect what’s important to you…your family, your home, your business. If you love someone or something, you buy life insurance to protect them, or it. Life insurance offers a death benefit that lets you rest assured your family can keep their home, go to college and realize the plans you’ve made for them. It also ensures that the business you've worked so hard to build can go on. But life insurance can do more.

Some policies can help you grow financially and you can use the money that accumulates during your lifetime to help fund college, retirement or unplanned expenses. Life insurance also offers some unique tax advantages. You can choose from several types of life insurance policies, including term life, universal life, whole life and variable life.

Because life insurance offers a death benefit that is paid to your beneficiary if you die prematurely, it can ensure that the dreams you have for your family or your business can come true, even if you're not there to support them. And although death benefit protection is the primary reason to buy life insurance, there are several other important advantages you should know.

You can fund some life insurance policies so that they accumulate cash value. Over time, your cash value may grow significantly and you can use it to pay your premiums, borrow from it, or withdraw all or part of it to cover financial emergencies. Loans and withdrawals reduce the death benefit and cash surrender value. Some policies even let you participate in gains in a stock market index, or invest your premiums in variable sub-accounts. Life insurance is not an investment product, but it can be a good investment.

You get great tax advantages with life insurance too! Your earnings can grow tax-deferred until you withdraw the money (which is typically after you retire and when you may be in a lower bracket). You can borrow from your policy generally without being taxed, and still be credited with interest on the cash value in your policy. Your life insurance death benefit may be paid to your family or business income tax-free.

Life insurance is a financial tool that can help you achieve some of your financial goals, and represents a very important part of the foundation upon which to build one’s financial future. However, one can only buy life insurance when he or she is insurable. To determine how much is the right amount for you, see a professional life insurance agent.