New York— There are some great benefits to giving the gift of life insurance! It may not be on a typical “gift-giving” list, but when used correctly, it can be the gift that actually continues to give. People buy life insurance for many different reasons, but most often it is to protect the ones you love from financial burden.
“Some people wait for a major life event to buy life insurance — such as getting married, buying a home, starting a family or getting a raise at your job,” says Tim Heslin, Interim Head of AIG Life US. “Planning for your family’s future is an important one, and the amount of life insurance you may need can increase or decrease with all the different changes in your life.”
Life insurance provides ready money to the people who depend on your paycheck, should you pass away. According to AIG Life & Retirement, Life Insurance can help to:
*Pay for funeral expenses and medical bills
*Cover monthly bills, such as a car payment, rent or mortgage
*Pay off outstanding debt, including student loans or credit card bills
*Offset childcare costs if you’re a stay-at-home parent or a parent who must enter the workforce
*Fund a child’s future education
*Provide an inheritance for your children or a retirement account for your partner
Think of life insurance like a security blanket that can help financially protect the people you love most.
For more information about AIG Life insurance products and basics, visit https://www.lifeandretirement.aig.com/life-iq.