Take steps to manage your financial risks.

Life insurance offers a way to replace the loss of income that occurs when someone dies. If you die while the contract is in force, the insurance company pays a specified sum of money free of income tax to the person or persons you name as beneficiaries. A good life insurance program does more than just replace the loss of income that occurs if you die. It should also provide money to cover the new costs that arise after your death.

Do I need life insurance?
Life insurance is a unique asset that is a valuable addition to your overall estate due to its potentially high yield and tax-favored benefits. Life insurance can be used for any number of reasons. Some of the most common uses are:

• Creating an estate
• Funding a business transfer
• Funding
• Paying off the home mortgage
• Protecting a business
• Creating a retirement fund
• Guaranteeing loans
• Equalizing inheritances

Use this Life Insurance Needs Calculator to determine what your needs are. Input your assets, income and expense and the calculator will provide a recommendation. Click the report button for complete year-by-year details.