Building a Legacy with Life Insurance
Most people think of life insurance as a solution to help relieve end-of-life expenses and to replace lost wages from a deceased family member. These are certainly strong benefits to having life insurance, though we should consider other sometimes overlooked reasons for securing life insurace.
Life insurance can help build a legacy for yourself or a family member. After death, the money from a life insurance policy can help start a foundation, be donated to a worthy cause, or be invested in the education of young students through scholarships. With a little forethought you can establish some future monies that can do a lot of good!
Many life insurance policies build cash value, acting as a secure means of investing money to be used for education costs, a vehicle for a teenager, or other unforseen expenditures. Life insurance makes for a wonderful expression of love to the young children in your life (and their immediate families). An added benefit of insuring young children is that they won't be subject to a health screening, ensuring their eligibility as long as that policy is maintained.
The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.
