These are questions that can be easily answered through the purchase of life insurance.
Life insurance is an integral part of both personal and business financial planning.
It is used primarily to replace income that is lost with the death of a wage earner or key employee. And because proceeds on a death benefit are free from federal taxation, all of the money can be used to relieve debt or taxes. Depending on your needs, there are a number of ways to structure life insurance to meet your personal and business requirements. For example, decreasing term insurance can be used to ensure that your mortgage balance is protected as well as matched as you pay it off. The decreasing term insurance benefit will automatically decrease according to your mortgage schedule so that your mortgage balance is protected to the exact amount that you need.