Purposes of Life Insurance

Most of the time, Insurance Policies provides us more security for our financial problems at the peak times. Main purpose of life insurance is to provide financial security to the family or any other dependent's in the case of wage earners deaths. But life insurance policies also provides coverage for various other sectors to provide policy holder better financial security as per policy holders requirements. Following are the some of the reasons where life insurance policies can used:

• Retirement – Savings or any other type of investment opportunities that helps to build up a family's net worth.
• Estate Protection – Helps to cover estate taxes.
• Childcare – For replacing home-maker’s contribution.
• Mortgage Protection – To cover all your mortgage loans or the payments.
• Employee Benefits – Offered as group life insurance through your boss or employer to provide financial security to their employees.
• Protect Your Business – Helps us to protect the loss of key employee in a business known as key man life insurance.