When we think of life insurance, most of us think of money to bury or pay final expenses.
However, there are many ways to use life insurance to help others and yourself. In this short overview, we take a look at 7 ways to use life insurance. This list is by no mean exhaustive but these are some of the more common ways of using life insurance to accomplish specific goals.
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Final Expenses - Use 1 of 7 for Life Insurance.
Eliminate Debts - Use 2 of 7 for Life Insurance.
Replace Income - Use 3 of 7 for Life Insurance.
Supplement Retirement - Use 4 of 7 for Life Insurance.
Charitable Giving- Use 5 of 7 for Life Insurance.
Business Life Insurance - Use 6 of 7 for Life Insurance.
Offset Taxes - Use 7 of 7 for Life Insurance.
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