What Is The Advantages And Disadvantages Of Life Insurance? 
Three big advantages of having life insurance , in my opinion , are : 1 -RRB- It provides a fairly quick cash payment to your beneficiaries at a time of great sorrow , stress and financial need . 2 -RRB- The funds are income tax free and do not have to go through probate . 3 -RRB- Leaving life insurance speaks from the grave of what a responsible and loving person you were . Three disadvantages are : 1 -RRB- You need to keep track of the how many policies you have and let others know where they are at . 2 -RRB- You need to make sure the insurance company knows your current address . -LRB- and bank , if auto withdrawal -RRB- , or you could lose your policy by missing payments 3 -RRB- People sometimes do not understand the advantageous features of their own policies . 