Today, life insurance has become an integral part the estate planning process. It can be used for a variety of reasons including leaving much-needed income to your survivors, provide for your children's education, pay off your mortgage, and simplify facilitate the transfer of assets. Life insurance can also be used to replace wealth lost due to the expenses and taxes that may follow your death, and to make gifts to charity at relatively little cost to you.
In light of decreasing mortality rates and the pure fact that we are just living longer, the cost of life insurance has decreased dramatically over the past few years. For this and many other reasons, you should review your current life insurance program in order to make sure it still accomplishes your end goals, is competitive in the current marketplace or to see if there are any new products which could be a better fit for you and your family.