Reasons to Insure

Reasons to consider purchasing life insurance

Income Replacement It can be a vital resource for your loved ones to help replace your income, pay off the mortgage, or fund your children's education in the event of your death.

Terminal Illness Some policies allow you to access a percentage of your policy benefit over your lifetime if you become terminally ill.¹ The proceeds from insurance can help cover unexpected expenses or medical costs at a time most critical to you and your family.

Estate Taxes Insurance proceeds (either the Death Benefit or the cash value) can be used to pay estate taxes, preserving your estate for your beneficiaries.²

Own Business If you own a business, life insurance can be used to cover outstanding business loans, providing financial stability after the untimely death of a key employee, and to provide cash needed to fund a buyout by a surviving owner.²

You'll want to have enough life insurance to cover routine expenses for your family in the event of your death. Consider your family's current expenses, expected future obligations, and the length of time you think family members will be relying on you to cover their financial needs. To calculate your current life insurance needs, go to Needs Assessment.

As your assets grow and your expenses decline, you may find your need for life insurance decreases.

Whatever your projected needs, planning ahead not only helps you provide for the future, it can save you money now. It's generally cheaper and easier to get life insurance when you're young and healthy.

1. Certain terms, conditions and restrictions apply. Details available upon request. If you take an accelerated payment, the Death Benefit of the policy will be reduced by that amount upon the death of the insured.
2. Consult an accountant or attorney for advice on how these strategies apply to your own personal situation.

Charles Schwab & Co., Inc. ("Schwab"), in association with the Small Business Insurance Agency, Inc. ("SBIA") provides customers with access to term life insurance issued by respected insurance companies. Schwab and SBIA are licensed insurance agencies.

The term life products available are underwritten and issued by the participating life insurance companies listed on this Web site. Not all policies and product features are available in all states. This is not an offer or solicitation in any jurisdiction where the policies are not approved for sale. Any obligations under the policies are the exclusive obligations of the insurance company and are subject to the financial condition of the insurance company.

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