There are a lot of uses for life insurance however, not only lost income. If you own a property that you want to keep in the family for example, it is far better to have a life insurance policy to pay the taxes due upon death than it is to have to sell the property to pay those taxes.
I would far rather pay a little bit of extra money each year to have my savings stay intact for my family, rather then them having to deal with a huge tax bill upon my death.
I'm not even going to get into all of the estate planning and wealth creation techniques that can come from a properly structured insurance plan here.
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