A. While most people are aware of the two major benefits of life insurance: paying funeral expenses and providing money to survivors, few know the following uses of Life Insurance (the so called living benefits):
- Paying mortgages and debts
- Paying estate taxes
- Creating an estate
- Providing a cash flow in retirement
- Equalizing an inheritance
- Paying for college
- Taking out a loan/borrowing against
- Funding charitable contributions
If you are interested in knowing any of the above use of Life Insurance, please contact us.