Reported 2 days ago
Parents with low net worth often underestimate the value of life insurance, but experts argue it is essential to ensure financial security for their children. Life insurance not only provides a financial cushion for families in times of need but also helps create assets that can secure a child's future, cover funeral expenses, and avoid financial crises triggered by the sudden loss of a loved one. It can be crucial for fulfilling obligations during divorces and offers benefits that are typically tax-free. Overall, life insurance is a vital safety net that can help families thrive even in challenging economic circumstances.
Source: YAHOO