A key component to building a sound financial strategy is to use life insurance to help protect your beneficiaries in the event of your death. Life insurance not only helps replace lost income, it can also help preserve a family’s assets.

You may think that life insurance is not necessary when you’re young, but if you have a family you may need it more than ever. Should you die at a young age the death benefit from a life insurance policy can help pay debts, education costs, childcare, and so much more. When you are older, life insurance can help protect the assets you have
accumulated from the erosion of estate taxes.

• Protect against loss of income
• Protect family assets

The graphic below shows that, in general, when you are young, you have many responsibilities and are only in the beginning stages of building wealth. And conversely, as you grow older, you have fewer
responsibilities and have probably accumulated more wealth.