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LIFE
It's never too late or too early to
think about protecting your family's financial future.
Life insurance is protection against financial loss resulting from
death. It is an insurance company's promise to pay your beneficiary
a specific amount of money when you die in exchange for timely
payment of premiums.
Why do I need life insurance?
Although you may not think about it, your ability to earn
income is a significant asset and life insurance helps replace lost
income in the event of your premature death. Here are some reasons
people buy life insurance.
The death benefit may be used:
•To replace income the family would need to maintain their standard
of living after the death of a wage earner.
•To pay off a mortgage loan and other personal and business debts or
to create a rent fund.
•To create a fund for children's education.
•To pay final expenses, such as funeral costs and taxes.
•To create a family emergency fund or a fund for a family member
with special needs.
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