Why Use Life Insurance? 
Some reasons people use life insurance are : 1 -RRB- It is tax friendly . Life insurance passes to a beneficiary income tax free . 2 -RRB- It is quick . Since it does not have to go through probate , it gets to the recipient quickly . 3 -RRB- It is personal . The owner of the policy gets to pick the person he wants to receive it . 4 -RRB- It is affordable . Being able to collect a large sum of money after paying only a few premiums -LRB- if death occurs -RRB- is an amazing benefit . 5 -RRB- It is predictable . With most life insurance policies , you know exactly what will be paid out if you die . 