Life Insurance Provides Financial Security for Growing Families
Term insurance is a relatively inexpensive form of life insurance that provides financial security for growing families. It is very important for young families that have not been able to accumulate a lot of savings to buy life insurance. Proceeds from the policy create an estate for the benefit of the surviving spouse and children.
A healthy 35 year old can purchase a 20 year term life insurance policy with a $1,000,000 death benefit for about $1.20 per day and sometimes even less! So even if the family has very little savings, if the insured dies, the family will receive a $1,000,000 benefit that is estate tax free!