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Do I really need life insurance? |
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Page 1 of 2  We all know that we should have life insurance, but it an endeavor that is intimidating if you don’t know where to begin and it can be expensive. That’s where I come in. With the proper advice, you will purchase the “right” life insurance for yourself and your loved ones. You will be making a conscious, deliberate decision about your future, rather than leaving it to chance. Life insurance can provide those who depend on you with a lifetime of financial security. I consider life insurance the best value in sound financial planning. It can be an important tool in the following situations:
- Replace income for dependents
- Create a source of savings for survivors
- Provide annuity income for survivors
- Create an inheritance for your heirs
- Pay final expenses for Funerals
- Make significant charitable contributions
- Pay Federal and State death taxes
 Life Insurance is available in many forms. Term Life is the least expensive and is available in specified periods for up to thirty years. Term is available in level term, increasing term and less and less in decreasing term levels. Whole Life is available in many forms. It cost more than term insurance because it builds cash value and can be paid in specified periods or for the life span of the insured. All beneficiaries are named by the insured and can be changed at any time by the insured. Various forms of whole life are available to fit various needs. It can be purchased as whole, participating, non-participating, adjustable, modified, universal whole life, and variable forms such as variable whole and variable universal life.
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