While you are building up your retirement and investment accounts, adequate life insurance is a necessity.
Life insurance is an asset class and must be treated as one.
Life insurance is the only financial product available that can immediately self complete a retirement plan for your spouse and family. When you step out of the picture, life insurance steps in to provide immediate peace of mind.
Life insurance is designed to protect against the risk of passing away prematurely thereby leaving behind loves ones with debt or unfunded retirement plans.
As you get older and your financial picture changes, the need for life insurance will change as well. Life insurance is needed at younger ages for income replacement and providing for those we love. As you age, you may have family legacy or charitable goals and the correct life insurance structure can be more beneficial than leaving behind retirement and investment accounts.