Income Replacement


Without a doubt, the most common use of life insurance is to provide for our loved ones. Most often this translates to income replacement based on the life of the insured.

Common Uses of Income Replacement Insurance

Most life insurance shoppers want to provide for these common concerns:

  • Standard of living. Life insurance can provide for the daily necessities of your loved ones and allow them to maintain their standard of living without the discomfort of adapting to a new home, school or limited financial means.
  • Child care. Every parent, wage-earner or not, would do well to have life insurance coverage. An adequate death benefit enables the surviving parent to either stay home with the children or hire a caregiver.
  • Higher education. Many want to provide for their children’s college expenses or send their spouse back to school in the event of their untimely death.

Term life insurance is usually recommended for these needs because of the lower cost associated with it; although other options may fit your individual needs better.

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Joel Moyer