{"id":255,"date":"2024-02-16T13:57:06","date_gmt":"2024-02-16T13:57:06","guid":{"rendered":"https:\/\/www.acceptanceinsurance.com\/blog\/?p=255"},"modified":"2024-03-21T17:23:50","modified_gmt":"2024-03-21T17:23:50","slug":"what-are-the-benefits-of-life-insurance","status":"publish","type":"post","link":"https:\/\/www.acceptanceinsurance.com\/blog\/what-are-the-benefits-of-life-insurance\/","title":{"rendered":"What are the Benefits of Life Insurance?"},"content":{"rendered":"\n

If you\u2019re considering purchasing life insurance, you may find yourself wondering what the benefits are and how your family can use the money in the event of a tragedy. Life insurance provides your loved ones with a lump-sum payment that can be used to cover funeral costs and\/or help replace your income. Whether you leave behind a spouse that needs help paying the mortgage or a child that needs help covering the cost of college tuition, life insurance can help ease the financial burden on your family.<\/p>\n\n\n

Benefits of Term Life Insurance<\/h3>\n\n\n

Term life insurance is the most common type of life insurance purchased because it\u2019s straightforward and easy to understand. This type of life insurance is intended to last until your debts have been paid off to make sure your family is not left worrying about how they\u2019ll take care of the bills. Let\u2019s say you have a 30-year mortgage on your home – you would want to look at buying a 30-year term life insurance policy to ensure that your mortgage would be taken care of in the event of the unexpected.<\/p>\n\n\n\n

A few of the benefits of term life insurance are:<\/p>\n\n\n\n