Many households nowadays require two incomes to cover their basic expenses. You should have enough money left over to put in an emergency fund and save for things like retirement and tuition. But what if your family lost their paycheck tomorrow? Would your household be able to pay the bills if that source of money was no longer available?
One of your most valuable financial assets is your income. Would your family and loved ones be able to live comfortably if you were to disappear tomorrow? Life insurance can offer you and your loved ones peace of mind by replacing your income. The costs of mortgages, auto payments, utilities, groceries, and gas appear to rise year after year — with income replacement through a life insurance policy, your family can be better prepared for the increase in the cost of living.