Words can’t describe what your employees and their families endue after a loss of a loved one. Life insurance helps families pay off debts and other expenses, so they have to rely solely on savings. If your employees have anyone who depend financially on them, they need life insurance no matter their age or marriage status.
One of the biggest reasons to buy life insurance is to provide money in case of death. If you’re single and don’t want to leave money to anyone, you may not need life insurance. But as you take on more responsibilities and your family grows, your need for life insurance increases. The proceeds from a life insurance policy can replace the income lost to your family upon your death. The life insurance death benefit can also pay off debts and expenses, provide money to a charity or organization, and cover final and estate expenses.