Life insurance is for your survivors and it pays on your death. It pays death benefit all at once, whomever you choose as your beneficiary. It is good to know that:

- Beneficiary can be revocable or irrevocable.
- There can be more than one beneficiary.
- Death benefit is tax free.
- Death benefit is protected from your creditors.

There are many types of life insurance, and different ways to make it work for your needs and affordability. Life insurance is used as part of your financial planning such as:

- Minimize tax liability burden.
- You may be able to access money in your policy.
- Creditor protected Investments and so on.