• Life insurance can be used to pay funeral expenses, among other things.cemetary 3 image by sonya etchison from Fotolia.com
  
  There are few better ways to kill a conversation than to discuss the benefits of buying life insurance. Many people avoid thinking about their own deaths whenever possible, and even more avoid planning for it. Despite the unpleasant nature of considering your mortality, however, there are several reasons why developing and implementing a life insurance strategy for yourself and your family is not only a good idea, but essential.
  
  

Funeral Expenses

• At a minimum, your survivors must pay the cost of your funeral or cremation. These costs can add up to several thousand dollars or more, and many families do not have that much money in disposable income, or may have to sacrifice other financial goals to cover the expense. A life insurance policy provides the money necessary to pay your final expenses and allows for an easier transition for your loved ones by removing financial pressures as they adjust to life without you.
  
  

Lingering Medical Costs

• As life expectancy and medical technology have increased, it is now not uncommon to leave behind a mountain of medical expenses when you die. Battling chronic or long-term diseases such as cancer can cost hundreds of thousands or even more than a million dollars, according to ABS-CBN News. A life insurance policy can mitigate or eliminate this debt burden for your survivors. Some life insurance policies even allow you to collect a portion of the benefits prior to your death to pay for costs associated with your terminal illness.
  
  

Income Replacement

• A household runs on its income, and that income stream will be disrupted after your death. Buy a life insurance policy to provide at least one year's worth of your income to your spouse or surviving relatives to help them transition through the loss. Even if you do not generate a specific income, your family will likely need to hire someone to replace the duties you do for the household. In the case of stay-at-home parents, a life insurance policy can pay for necessary child care after you're gone.
  
  

Debt Elimination

• Many families have a mortgage, car payment or other debt. As a final gift to your surviving family, a life insurance policy can provide the funds to eliminate these debts and allow them to live without worry of foreclosure or repossession.