Every family has different needs when it comes to financial security, and each member fulfills a different portion of those needs. If you are the primary wage earner in your family, life insurance is a good way to ensure a stable financial future for your family. If you aren't the primary wage earner, it is important to help cover the financial burden of childcare, funeral expenses, and other unforeseen costs.

Life insurance can help provide monetary benefits to those you designate as beneficiaries-your spouse, children or siblings. Purchasing life insurance can help make a difficult situation easier by providing benefits for:

• Unpaid medical bills
• Income replacement for survivors
• Final expenses, like burial costs
• Unplanned or emergency expenses
• Your mortgage balance
• Future education funds for your children

If something should happen to you, how much money would your family need? You should consider:

• Your current debt
• Expenses your family can expect to pay after your death
• Your family's future needs

• Term Life
  insurance provides protection for a limited, specified period of time. If death occurs within the time limits on the policy, the benefits will be paid to your beneficiary. No benefits are paid if the insured person survives the length of the term policy.  
   
  Unlike other types of policies, term life insurance does not generate cash value. Term insurance does not generate cash value. Term insurance is usually the simplest and least expensive means or protection, and is a good choice for short-range goals.

 
• Permanent Life Insurance
  does not have a specified term, unlike term insurance. Permanent insurance provides protection for as long as you live, and is a good choice for long-range goals. 
   
  A permanent life insurance policy accumulates cash value. If the policy is cancelled before the insured dies, the cash value is payable. Loans may be made from the insurance company against the cash value of the policy at a rate guaranteed in the policy as security.