Monday, August 2, 2010

What Is The Purpose Of Life Insurance?

Financial advisors as well as some insurance advisors tell clients that insurance should generally be used for 2 purposes:

• The first purpose is to cover all final expenses including debts and funeral and burial costs
• The second purpose is to ensure that your family will be able to continue to maintain their lifestyle once you are gone

These are 2 primary reasons to purchase life insurance and should be talked through with a financial advisor or life insurance agent if you have questions about or are considering purchasing life insurance.

Life insurance can be a simple low cost alternative to providing for the future of our loved ones if we do not accumulate enough wealth to do so during our lifetime. Purchasing a life insurance policy can be a key element in estate planning and a legacy for surviving beneficiaries such as spouses and children.

For additional information, contact Tom Newsad at tnewsad@cinci.rr.com or http://www.newsadinsurance.com. Tom is a Grange Life Pacesetter agent serving Trenton, Middletown, Oxford, Franklin, Liberty Township and surrounding areas in Ohio, Kentucky, and Indiana.

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