Why Would I Buy Life Insurance?

You've probably been thinking about this as part of being responsible for your family. It often goes hand-in-hand with drawing up your will.

Your financial adviser may have suggested that you buy life insurance as an important part of planning for your financial future.

You could be concerned about the increasing costs of having a funeral and/or memorial service and want to provide adequate funds for this specific purpose.

Life insurance can be used as mortgage or creditor insurance.

Beyond the financial security it would give your spouse and/or children you might wish to create an inheritance.

Certain types of life insurance products are set up to be used as a financial tool in the retirement strategy.

You might fund your buy/sell agreement with your business partner with a life insurance policy. You may need to purchase key person insurance to protect your business continuing operation after the person's death.

You need a qualified adviser to review your situation and help you decide what suits you now and what you might want in the future. You would discuss what your retirement goal is, what type of lifestyle you would like to enjoy at retirement and how committed you are to achieving these goals.