Q. Why do I need life insurance?

A. The main purpose of life insurance is to provide cash to your family after you die. The money your dependents will receive (the “death benefit”) is an important financial resource.

It can help pay the mortgage, run the household, end ensure that your dependents aren’t burdened with debt. The proceeds from a life insurance policy could mean that they won’t have to sell assets to pay outstanding bills or taxes. What’s more, there is no federal income tax on life insurance benefits.

Aug. 31, 2005.