The advantages of life insurance are three fold. The death benefit proceeds can pay the bills, fund future obligations and make a difference for your children and charities. The economic leverage for a healthy insured is significant and the tax advantages considerable. The diversity of the product line can be customized to the individual consumer. The only disadvantage of life insurance, like any other product, is that you have to pay for it.
I believe there are way more advantages to owning life insurance than disadvantages. The only disadvantage I can think of is having to pay ongoing premiums until death.
The advantages are almost too numerous to list. Here are some of the most important. Life insurance provides income protection for loved ones left behind, repays debt, educates children, gives peace of mind, protects key employees, protects business partnerships, helps with savings for retirement and is almost always tax free.
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The advantages are almost too numerous to list. Here are some of the most important. Life insurance provides income protection for loved ones left behind, repays debt, educates children, gives peace of mind, protects key employees, protects business partnerships, helps with savings for retirement and is almost always tax free.