Having life insurance is an essential lifetime financial strategy. Besides protecting your loved ones from financial distress when you pass on, you can derive many benefits from the life policy while still alive. At JC Demo Insurance Group in Matthews, NC, we will walk with you on the various life insurance types and customize one that meets all your needs.
Benefits of life insurance
- Loan security
Your life insurance policy can act as security for loans in a bank. This could cater to such things as emergencies, school fees, or act as your retirement supplement. You don’t have to put your life investments on hold while saving for your life insurance policy.
- Tax-deferred growth benefits
Holders of life insurance policies receive tax relief on their incomes. The tax relief can act as a source of income with the benefits being used for other investments.
- Term benefits
Benefits from life insurance can be paid back on different terms. You can have these terms coincide with major life events such as your children’s graduation or for your planned wedding.
- Debt payment
Life insurance benefits can be used to repay off your mortgage upon your demise. The benefits can also be used to pay for crucial expenses such as medical bills or your children’s tuition fees. This is essential as it lifts the heavy financial obligation on your loved ones.
- Burial final costs
The burial costs could be overwhelming for your family. Life insurance benefits will ensure that you get a decent burial.
- Family inheritance
To maintain your family’s current living standards, life insurance benefits can be awarded as a form of inheritance to your family members. Our agents at JC Demo Insurance Group will discuss the kind of life you want for your family upon your demise and the most appropriate sum assured.
Please visit our website or talk to our agents at JC Demo Insurance Group in Matthews, NC, on life insurance’s many benefits.