As you achieve various milestones in life such as getting married and starting a family, you’ll want an insurance policy that can help you protect your spouse and children in the event of a tragedy. There are a variety of different policies you can choose from to fit your needs, including whole life, term life, and universal life insurance policies. With one of these policies, you’ll be able to have peace of mind knowing that your family and assets are always protected.
Should an accident occur, life insurance will cover the cost of a funeral and burial so the burden doesn’t fall to your spouse or children. It also allows for your children to be taken care of and are able to afford a college education down the road. Should your spouse pass, life insurance can help you replace their income so you can still keep the same financial quality of life for your family that you always had.
If you’re swimming in debt, life insurance will cover those costs so your family isn’t burdened with the remainder. Certain policies also allow you to build an account value over time so you can borrow from your policy to add into your retirement income or provide additional funds to a college education for anyone in your family.
Contact Fortis Lux Financial today at 212-578-0300 to learn how a life insurance policy can benefit you.