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Life Insurance in Estate Planning

Gary Hachfeld, David Bau and, C. Rob Holcomb (July, 2013)

Summary

Life insurance can provide needed funds for survivors upon the death of the insured. For most families, the need for life insurance is greatest early in life. Children are young and the financial burden of supporting the family are the greatest and create the need for life insurance. Ironically, families with the greatest need also are those who probably can least afford the life insurance premiums. The need for life insurance usually decreases as family’s age and accumulate more assets and net worth.