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Although you may not think about it, your ability to earn income is a significant asset.
Life Insurance can help replace lost income in the event of your death. Here are some reasons people buy life insurance.
- To replace income the family would need to maintain their standard of living after the death of a wage earner.
- To pay off a mortgage loan and other personal and business debts or to create a rent fund.
- To create a fund for children's education.
- To pay final expenses, such as funeral costs and taxes.
- To create a family emergency fund or a fund for a family member with special needs.