106 million American adults (41%) are uninsured or underinsured.

Life insurance provides financial protection to your beneficiaries in the event of your death.

..and acknowledge they are living with a life insurance gap

Life insurance provides financial protection to your beneficiaries in the event of your death. The primary types of protection it offers include:

Income Replacement: Life insurance ensures that your loved ones will receive a payout, known as the death benefit, when you pass away. This benefit can replace your lost income, helping your family maintain their standard of living.

Debt Coverage: It can be used to pay off outstanding debts like mortgages, loans, or credit card balances, preventing the burden of these debts from falling on your family.

Final Expenses: Life insurance helps cover funeral and burial expenses, which can be substantial.

Estate Planning: It can provide a tax-efficient way to pass on your assets to your heirs without the burden of estate taxes.

Education Funding: Life insurance can secure funds for your children’s education, ensuring that their educational goals are met.

Business Continuation: In the case of a business owner, life insurance can be used to fund a buy-sell agreement, allowing for a smooth transition of the business in the event of their death.

Legacy and Charitable Giving: You can use life insurance to leave a legacy for your loved ones or contribute to charitable causes.

In essence, life insurance is a safety net that offers financial security and peace of mind to your beneficiaries when you’re no longer there to provide for them. The specific protection and benefits vary depending on the type of life insurance policy you choose, such as term life, whole life, or universal life insurance.