What Is Life Insurance Money For?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaLife insurance proceeds protect the beneficiaries from economic harm if the policy insured dies. Death benefit proceeds can pay off debt, including a mortgage, fund future obligations like child education or fund charitable organizations. It can even replace the income of the insured and fund a retirement for the beneficiaries.Answered on July 21, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.Life insurance money is for carrying on one's financial responsibilities beyond death. Sometimes, it is is to bring an endeavor to completion (such as raising your child to adulthood). Sometimes, it is to provide funds for a transition (such as key person insurance gives the business time to replace you). Sometimes, it is to distribute what you have accumulated during your life, to what is important to you, after your death (such as leaving money to a charity or heirs).Answered on July 21, 2013flag this answer
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