• Life insurance can help at a time of uncertainty.life's a gamble image by Pix by Marti from Fotolia.com
  
  No one can predict the future. One can make educated guesses and wise estimates. This is the very foundation of the insurance business. Life insurance is very important and has a practically endless stream of advantages. Especially if you are the sole breadwinner of the household and/or have young children, life insurance is a must.
  
  

Security

• The most obvious advantage of a life insurance policy is the sense of well-being and security. The main breadwinner should be insured in case of an early death. If the surviving spouse has young children, it would be difficult for that person---especially under the circumstances---to drop everything and get a job. A life insurance policy can cushion the blow and make the financial and personal adjustments to the new financial arrangement much easier. Even more, if the family is older and has grown children, this would leave the surviving spouse (who no longer works) in much better financial shape than if he was then dependent upon others.
  
  

Taxes and Funeral Costs

• Death is expensive. The average funeral in 2010 is well over $7,000. But the general loss of income can be just as heavy a blow to the average family. Estate taxes and administration fees can be high and strain an already tight budget. Since life insurance benefits are available immediately, this money will come at the right time--precisely when you need it.
  
  

Loans and Credibility

• Taking out a life insurance policy immediately creates financial credibility since it begins the process of estate building. Loans can be taken out against a policy, and, under certain circumstances, some of the principle can be removed during the life of the insured. Upon the death of the main breadwinner, going to the bank for loans or other assistance is made much easier with a life insurance policy to back you up.
  
  

Debts

• A life insurance policy is an excellent means for dealing with debts left over from the deceased. When a loved one dies, the last thing a family needs is a mountain of debt that cannot be easily repaid since the main breadwinner has passed on. The existence of a life insurance policy gives peace of mind that a solid income will be quickly available to deal with mortgage, automotive and credit card debt.