Many surviving spouses may already be employed or will find employment. However, your spouse's income may be insufficient to cover the monthly expenses of your family's current lifestyle. Providing a supplemental income fund will help your family maintain its standard of living. Life insurance has long been recognized as an effective method for creating liquidity at death so that estate taxes can be paid and asset transfers to future generations can be maximized. However, this use of life insurance requires qualified legal expertise to ensure the proper result.
Life insurance is a major part of any family's financial protection.
As you develop your insurance plan, make sure to analyze your existing policies. Calculate the additional coverage you may need based on your family's financial obligations and any other resources, such as retirement benefits and savings. A qualified insurance professional can be of great assistance in determining an amount of coverage that is consistent with your needs. Copyright 1998-2001 Economy Life Insurance. All Rights Reserved.