Right Life Insurance Policies for Your Family

Nobody likes to think about "the worst-case scenario," but if you want to make sure your family is in good financial shape, it's something you must consider. Are they ready for an extended hospital stay - or worse?

If people depend on your income, life insurance can replace that income for them if you die. The most commonly recognized case of this is parents with young children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings or adult children who continue to rely on you financially. Insurance to replace your income can be especially useful if the government - or employer - sponsored benefits of your surviving spouse or domestic partner will be reduced after your death.

Life insurance can pay your funeral and burial costs, probate and other estate administration costs, debts and medical expenses not covered by health insurance.