Most people think of life insurance as a solution to help relieve end-of-life expenses and to replace lost wages from a deceased family member. These are certainly strong benefits to having life insurance, though we should consider other sometimes overlooked reasons for securing life insurace.
Life insurance can help build a legacy for yourself or a family member. After death, the money from a life insurance policy can help start a foundation, be donated to a worthy cause, or be invested in the education of young students through scholarships. With a little forethought you can establish some future monies that can do a lot of good!
Many life insurance policies build cash value, acting as a secure means of investing money to be used for education costs, a vehicle for a teenager, or other unforseen expenditures. Life insurance makes for a wonderful expression of love to the young children in your life (and their immediate families). An added benefit of insuring young children is that they won't be subject to a health screenng, ensuring their eligibility as long as that policy is maintained.
Talk to a Loman-Ray insurance executive to review your options and start building a legacy!