3 Important Uses for Life Insurance

If you have a family, your top priority is to ensure their well-being. Investing in a life insurance policy is the best way to provide for your loved ones after you’re gone.

Let’s discuss three important ways a life insurance policy can be used to protect your family’s future.

1) Use it to cover costs

When you’re gone, you may leave many financial obligations behind that will become your family’s responsibility. Life insurance can help pay for many of these following expenses: 

• Funeral/Cremation costs
• Outstanding medical bills
• Estate fees and mortgages
• Other financial debts

Losing you will cause enough pain for your loved ones, so we at Cullen do our utmost to relieve them of any ultimate monetary burdens they may bear.

2) Use it to pay federal and state taxes

If you bequeath your estate to an heir or heirs, it is likely they will have to pay taxes on it.

Thankfully, a good life insurance policy can offset much or all of the cost of estate inheritance and will alleviate a significant amount of stress for your beneficiaries.

Contact us today if you would like to know more about how property taxes can impact your loved ones.

3) Use it to replace income

If you are the sole provider for your family, your passing can have tremendous consequences on the ability for them to maintain their lifestyle.

A life insurance policy can provide a stable source of income that will help them preserve their way of life as if you were still there.

There is no better way to ensure your loved ones are cared for than with life insurance. Call Cullen today at (661) 948-4444 or visit us online to learn how you can invest in your family’s future: Get a quick quote with Allstate