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Why do I need to Buy a Life Insurance Policy? Garden State Life Insurance.
Why do I need to buy life insurance?
First of all, what does a life insurance policy do?
A life insurance policy will provide a specific amount of money, generally on a tax-free basis, to your beneficiary when you die -- when he or she will need it the most.
A life insurance policy is a wonderful financial tool. Here’s some of the many valuable ways it can be used:
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· Keep the family in the home by enabling them to pay down or pay off the mortgage or keep up with the rent.
· Maintain the family’s standard of living. A life insurance policy will provide the funds your spouse and kids will need to pay:
o Credit card debt and car payments.
o Childcare expenses.
o Medical and healthcare costs.
o Recurring household expenses such as phone, electric, and water bills.
· Provide the funds your children will need to continue their education. The death benefit from your life insurance could be used to pay tuition, room and board or other school expenses. Or, if you have already established a fund for college, the proceeds from life insurance can be used to pay other debts or expenses so your savings can be preserved.
· Pay final expenses so your family won’t have to liquidate assets to satisfy taxes and funeral costs.
· Keep the business in the family by providing the funds to pay salaries and expenses.
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Who needs to buy life insurance?
What type of life insurance do I need to buy?
How much life insurance do I need to buy?
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We Value Your Security and Privacy
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Garden State Life Insurance Company
League City, Texas
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For assistance call toll-free 1-800-638-8565 9 a.m. to 7 p.m. Eastern Time Monday through Friday.
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Copyright © 2006 Garden State Life Insurance Company. All Rights Reserved. Garden State Life is licensed in all 50 states and the District of Columbia.
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