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Encouraging Heroes. You can be one too.

While it can be difficult to think about what may happen to your family in the event of your untimely passing, making decisions about life insurance can insure that should something happen to you, your spouse and children will be protected financially. Read on for seven benefits to having life insurance that all parents should consider.

1. Providing for Your Family
The most important benefit of life insurance is that you can establish the standard of living for your family if you are unable to provide for them. Purchasing a substantial life insurance policy will ensure that your family can buy a home, attend college, or achieve other goals that you’ve set out on together.

2. Final Expenses
The cost of a funeral–even the simplest service–can be staggering. Providing a budget for this with your life insurance policy will keep your family from being financially burdened during a difficult time.

3. Maintain Standard of Living
If you’re like most modern families, both you and your spouse work. Purchasing life insurance can replace your income, meaning that your family will be able to live in the same way they have during your lifetime. This means that if you pass away, your spouse will be able to keep up with the household bills.

4. Pay Off Debts
If you have debt, whether a mortgage, student loans, or credit card bills, your life insurance policy will allow your surviving family to settle those debts without going into financial ruin.

5. Tax Benefits
Most death benefits through life insurance policies are tax free, meaning that your family will receive cash with no strings when they need it most. In addition, you may be able to take a tax-free loan or withdrawal from your policy during your lifetime.

6. Pay for Inheritance Taxes
If you have a sizable estate that you’d like to leave to family members after you’ve passed on, having a life insurance policy that provides for the often large inheritance taxes that will be levied will ensure that they are able to make the most of this gift.

7. Peace of Mind
Knowing that your family would be cared for if something were to happen to you can relieve anxiety and promote a sense of well-being. There are no guarantees in this life, but by purchasing life insurance from somewhere like www.groupinsurancemountainview.com or other life insurance companies, you can be sure that your family can survive and thrive in your absence.

Earnest Parenting: help for parents who are considering life insurance.