2. You want to pay your own funeral.
The average funeral costs between around $7,000 to $9,000. That’s a lot of money to put
on your family’s shoulders after you pass away. So to help your family cover the cost of funeral,
plan ahead and get a life insurance policy.
As Annamaria Vitelli, managing director at PNC Asset Management Group said,
“life insurance can help protect your family and keep them financially secure when you’re not there
to take care of them.” “In addition to supporting your family, life insurance proceeds can
help provide immediate cash at death and take care of some or all of a decedent’s debts,
funeral expenses and income or estate taxes.”