Life insurance is an essential part of the financial planning process. This is especially true if dependents rely on you financially. The main reason people buy life insurance is to replace the income that would be lost with the death of a wage earner. The life insurance proceeds can also help ensure that your dependents are not burdened with significant debt upon an insured person’s death. These proceeds could mean your dependents won’t have to sell assets to pay outstanding bills or taxes. An important feature of life insurance is that death benefits are not subject to federal income taxes, and if set up properly, it can be estate tax free when desired.

Most people insure their home and automobiles because they are important to them, but they frequently don’t insure the most important thing for their family …. themselves.  God forbid something happen to you but if it does who is going to replace the income you provide for your family.  Life insurance is a critical part of their financial planning process.  The main reason for life insurance is to replace the income of the person who dies.  If you die today, will your family be able to continue to live in the same house or will your children be able to go to college like you always planned?  Are they going to have to sell everything you have worked so hard to provide for them?  Life insurance can allow your loved ones the opportunity to continue as you had planned.