Do you need life insurance?

If you have a family or spouse who depend on you for financial support, or if you work at home providing your family with such services as childcare, cooking, and cleaning, then you should look into life insurance.

Older couples may need life insurance to protect a surviving spouse against the possibility of the couple’s retirement savings being depleted by unexpected medical expenses.

Individuals with substantial assets may need life insurance to help reduce the effects of estate taxes or to transfer wealth to future generations.

Some other the traditional uses of life insurance are more proactive in their approaches to addressing problems, including the following:


The cash value in a life insurance policy can provide funds for a college education if the need for the death benefit decreases.

Charitable giving

Life insurance can fund a donation for a charity, church, foundation, or nonprofit organization.

Mortgage and debt coverage

Life insurance may be used to pay off a mortgage, credit cards, student loans, and other personal debt.

A financial professional can help you evaluate your individual needs, and help you understand your options for life insurance strategies that would be appropriate.

Withdrawals from life insurance policies may be subject to fees, penalties, and income taxes depending on the specific life insurance policy and the policyholder’s tax situation. Withdrawals reduce the policy value and death benefit.

Life insurance contains exclusions, limitations, and terms for keeping it in force.  For costs and complete details contact a financial professional.  

This information is provided for informational purposes only. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. 

Please be advised that this document is not intended as legal or tax advice.  Accordingly, any tax information provided in this document is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer.  The tax information was written to support the promotion or marketing of the transaction(s) or matter(s) addressed and you should seek advice based on your particular circumstances from an independent tax advisor.

Please consider the charges, risks, expenses, and investment objectives carefully before purchasing a variable life insurance.  For a prospectus containing this and other information, please contact a financial professional.  Read it carefully before you invest or send money.

Equitable Financial Life Insurance Company (New York, NY) issues life insurance and annuity products. Securities offered through Equitable Advisors, LLC, member FINRA, SIPC. Equitable Financial Life Insurance Company and Equitable Advisors are affiliated and do not provide tax or legal advice.