When it comes to life insurance, there are many different options and plans available. Determining which is best for you and your family can be challenging. If you are in such a situation, don’t worry! We are here with the key benefits that Bill Schantz mentions about life insurance. Read more to find out!
Bill Schantz Highlights Some Key Benefits of Having Life Insurance
Here, we will look at the eight most potent life insurance benefits, according to Bill Schantz:
Protection for Your Family
The most important benefit of life insurance is that it provides financial protection for your family during your death. If you are the primary breadwinner in your family, life insurance can help to ensure that your loved ones are taken care of financially if you are no longer around.
Peace of Mind
Another benefit of life insurance is that it can give you peace of mind. Knowing that you have coverage can help you relax and enjoy your life, knowing that insurance will care for your family financially if something happens to you.
If you have outstanding debts, life insurance can relieve your loved ones in the event of death. Your beneficiaries can use the death benefit to pay off any outstanding debts, such as a mortgage or car loan. This can help to ease the financial burden on your loved ones after you are gone.
One of the most attractive features of life insurance is that the death benefit is typically paid out tax-free. This means your beneficiaries will not have to pay taxes on the money they receive from your life insurance policy.
Another benefit of life insurance is that it can help to cover the cost of your funeral and other final expenses. This can be a great relief for your loved ones, who may already be struggling financially after your death.
You can also use life insurance for estate planning purposes. If you have a large debt, you may consider using life insurance to pay off your debts so that your loved ones are not left with this burden after you are gone.
Certain life insurance policies can also be used as an investment tool. For example, cash value life insurance policies build up cash value over time that you or your family can use for various purposes, such as retirement planning.
Finally, life insurance can provide you with financial security in retirement. If you have a policy with a death benefit greater than your estate’s value, your beneficiaries can use the money to help fund your retirement. This can be a great way to ensure you have enough money to live comfortably in retirement.
That’s it about the benefits of life insurance by Bill Schantz. Talk to your agent about all the options available when considering life insurance. They can help you choose the right policy for your needs and budget.
Concluding Benefits of Life Insurance As Per Bill Schantz
Have you considered how a life insurance policy could benefit your family? If not before, then probably yes, after reading these benefits, according to Bill Schantz. Don’t wait until it’s too late – make sure your loved ones are taken care of financially if something happens to you.