Life insurance has many uses for both individuals and business owners.
In the earlier stages of life, the principle purpose of insurance is protection against untimely loss of income of the family provider.
In the later stages life insurance can help provide funds to pay estate taxes and offers wealth-protecting benefits, by providing an effective way to transfer wealth to your beneficiaries.
One of the many uses of life insurance is for estate planning.
The estate planning process is meant to help you create, maximize and preserve wealth while you’re alive and to conserve and control distribution after your death in accordance with your goals and objectives.