Life insurance can be an important part of your financial strategies, helping to ensure a more secure financial future for your loved ones when you're gone

1. 5 Uses for Life Insurance
Benefits

2. Life insurance can be an important part of your financial
strategies, helping to ensure a more secure financial
future for your loved ones when you're gone.

4. Not only does life insurance help cover unexpected final
expenses—it can also provide your family with a financial
safety net or even serve as an inheritance.

6. Paying final costs
alchemyinsurance.com notes that life insurance
policy benefits can be used to pay final expenses,
including funeral or cremation costs, medical bills
not covered by health insurance, estate
administration fees or other unpaid obligations.
Even expenses such as a mortgage balance can be
covered by your benefit.

8. Paying off debt or replacing
income
According to alchemyinsurance.com, life insurance
benefits can help replace your income if you pass away.
Your beneficiaries can use the money to help cover
essential expenses, such as paying off a mortgage or
securing college educations for your children.

10. Inheritance
The III suggests buying a policy with a named heir as a
beneficiary in order to secure an inheritance for your
loved ones. The death benefit can also serve as a
supplement to other inheritance funds you may wish to
leave your heirs.

12. Charitable contributions
Life insurance policies can be created with your favorite
charity as a named beneficiary, the III says. This can help
ensure your philanthropic goals are met after you die,
and that benefits are provided to your charity of choice
— even if you don’t have a very large nest egg or estate.

14. Paying federal or state estate
taxes
Your heirs may face an estate tax upon receiving their
inheritance, depending upon the state of residence and
the amount. The III suggests that life insurance benefits
may be used to partially or completely offset this cost
for your heirs. Consult with your life insurance provider
or a financial professional for more information on your
projected estate tax impact and life insurance benefit.

15. Alchemy Insurance
CONTACT INFORMATION
535 Lincoln Street
Oxford, PA 19363
info@alchemyinsurance.com
Phone: (610) 998-9506
Fax: (610) 410-0655
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