Family

• Life insurance can protect your family. If you die prematurely and you have a wife and children, the insurance should be enough to cover your income, debts, education expenses and other expenses for your family. A financial planner or insurance agent can tell you exactly how much insurance your need.
  
  

Belongings

• When you have insurance, you will not suffer a loss to your personal property such as your home or auto. Insurance allows your personal property to be replaced when there is damage or destruction.
  
  

Confidence

• You will have peace of mind when you know everything you have of value is protected by your insurance company.
  
  

Function

• An insurance policy allows you to name beneficiaries in case of your death. You can even name a contingent beneficiary, who receives the proceeds of a life insurance policy if the primary beneficiary is deceased when a claim is filed.
  
  

Considerations

• Insurance can allow funds to go to your loved ones without getting tied up in the estate or probate court.