Life insurance is used to protect the financial security of the people you love most. If people rely on you to provide for them, then you probably need life insurance. But how does life insurance fit into a financial plan?
A life insurance policy pays a cash benefit, tax free, to your beneficiaries when you die. The amount of money for which you are insured and the type of insurance you buy depends on your needs. People can get life insurance through work (through group benefits plans) or they buy it on their own (from an insurance advisor like EFG).
Everyone's needs are different, but it's good to start with a rule of thumb:
The primary purpose of life insurance is to protect against the personal and financial strain of an unexpected death. However, life insurance comes in many forms and can accomplish other, more complex, goals too. Insurance should not be static. Life insurance is needs based, and your needs change over time, whether you are just starting out in life, have a family or retired. Let an EFG advisor show you the best policy for you. We'll reevaluate as your life changes and adjust your policy as needed.
Ecclestone Financial Group Inc.
Ecclestone financial group
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