I have debt such as a mortgage or car payments
Life insurance is important, and even more so when our passing puts our loved ones’ finances in peril. When you purchase a home or car, you commit to monthly payments for a certain number of years. Should you die, these payments become your family’s responsibility. Your debts don’t just go away; your loved ones must repay them. If they cannot afford to do so, they must sell your belongings. Most of the time, your life partner is the one who inherits this financial burden.
Life insurance helps to avoid placing additional financial stress on your loved ones by paying off your mortgage, car loan or other debts in full after your death.