Why Does A Person Need Life Insurance?
- 185 POINTSview profileRichard EddyFinancial Advisor, Cona Financial Group, La Verne, CAThere are are number of different reasons a person might need life insurance, but a common use of life insurance is to provide money to replace the income a family loses if the breadwinner dies. Another use of life insurance would be to provide the cash necessary to settle an estate without disrupting existing assets like real estate and/or a small business. Yet another reason for needing life insurance is to provide cash at the time of death that can be used to pay for final expenses such as funeral costs.Answered on August 19, 2013flag this answer
1492 POINTSview profileJeff DavisInsurance Advisor, Lordship Insurance Services, CaliforniaLife Insurance is one of the best ways to deal with unexpected losses and events. It can be used to control a large amount of cash (face value) for a relatively small premium creating control of an asset with little cash and great leverage. People need life insurance to cover events such as death and disability. The use of insurance has helped many people survive very hard times.Answered on August 21, 2013flag this answer
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