CHAPMAN-SANDER

If you are employed, ensure that you take advantage of your employer's life insurance benefits. Some companies offer life insurance as an employee benefit, and you can opt to pay for extra coverage through payroll deductions. It is important to be aware of all options as not all plans are created equal... Funeral costs are a significant expense, but they don't have to be covered by your estate. In fact, your term life insurance can help cover the costs of a funeral. You can also have your policy pay for the funeral service before it begins. These policies can also cover inflation, which is a significant cost factor for funerals... The benefits of life insurance are many, but perhaps the most important reason is to replace lost income. Whether a person is the sole provider of a family or shared household expenses with a spouse, income replacement is a necessity. Additional expenses can result if you don't have this coverage.