Income Security Insurance

Income Security

Another component in your overall life insurance program is to provide for income security for the surviving spouse or dependants. If you do have dependents and you have enough assets to provide for them after your death (investments, trusts, etc.), then you may not need life insurance.

Until your assets reach this level, life insurance can be used to provide income security for your dependants. The proceeds of a life insurance policy can be invested to provide an income stream. In planning for a family, care should be taken to provide trustees for any minors who may be beneficiaries of the policy.