From Eileen Kerlin Walsh’s Facebook Live Lemonade on the Porch
Today we are going to look at different types of life insurance and how you can use them to your benefit in estate planning.
Life insurance is a contract between two parties, typically an individual and an insurance company. The company agrees to pay a specific sum of money upon the death of the insured, to the beneficiaries named in the policy.
The aim is to replace the economic loss that would have been incurred by the beneficiaries because of the insured’s, the policy holder’s, death.
In exchange for the death benefit, the individual who purchases the policy agrees to pay a premium, a sum of money, to the company for a specific period of time.
The right kind of life insurance, carefully coordinated with your estate planning, can provide significant economic benefits and peace of mind for you and your loved ones.
Learn more in Eileen’s video replay from Facebook Live
For more of Eileen’s Facebook Live videos, including Lemonade on the Porch, Spring Tea with Kerlin Walsh Law, and Fireside Chats, go to the Kerlin Walsh Law YouTube Facebook Live playlist
