Gus Aref

The Local Expert

Life Insurance

6735 Conroy Rd, Suite 411
Orlando FL 32835


Q: Do I really need life insurance?

A: A better question would be, “can I really use life insurance?” And the answer to that is a resounding “yes!”

Life insurance is a tool that can serve many purposes. While many see it as strictly a death benefit, payable to your beneficiaries/survivors to protect them from an unexpected and sudden loss of income, the fact is life insurance has many more uses than that. So many, in fact, that we often refer to it as the ‘Swiss army knife’ of financial planning.

For instance, if funded with cash value, life insurance can be used as a form of asset protection and as part of tax deferral strategy. It can be used as a way to save toward a future goal like retirement or college.

When used for estate planning, life insurance can protect the integrity of inheritance. It can even be used to fund business buy/sell agreements, and not to forget legacy planning and income protection.
Life insurance has so many specialized uses it can be hard to catalog them all. It can be combined with important living benefits riders like critical illness and long-term care. Those can help an insured pay for care and receive an indemnity while coping with a serious, protracted illness.

Clearly, life insurance needs and uses change as we move through life. And your needs can change with you. A younger person just starting out needs life insurance as a bridge between the need to earn an income today while working toward financial independence tomorrow. Furthermore, a wealthy individual who’s already achieved financial freedom needs life insurance to protect and preserve their assets by utilizing it as an estate-planning tool.

So, do you need life insurance? The best way to answer that is to seek out an insurance professional to help you navigate through all the benefits of this incredibly useful financial tool.

We have only scratched the surface here, but one benefit stands out above the rest: however you use it, when life comes at you, life insurance will be the safety net that will better position you and your family for whatever life has in store for you.

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