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Matthew J. Curry, CFP®, ChFC®, CLU®
Financial Planner
CA Insurance Lic. #4305463
Curry Financial Group, Inc.
23 Green Street, Suite 207
Huntington, NY 11743
Phone: 631-927-3322
Cell: 631-332-8774
Fax: 877-840-7821
Email: matt.curry@prudential.com
September/October 2025
Is Life Insurance Optional?
Everyone hopes to live a long and healthy life. But the fact is, there are no guarantees. Would your family or business survive financially if you died suddenly or your company lost a key employee? Life insurance is designed to provide for families or businesses if the unexpected happens. Life insurance protects your family or business by offering a cash benefit upon the death of the insured. Consider these key reasons for purchasing life insurance.
For Individuals
Life insurance can be used to:- Cover funeral and burial expenses. The basic funeral cost averages $10,495.* Life insurance proceeds can be used to cover expenses, leaving more of your assets intact for your family.
- Replace income. Proceeds can help your family maintain its standard of living afer the loss of your income.
- Pay for your children's college educations. With one less income, saving for college may be difficult for your spouse.
- Eliminate debt. Your spouse can use the benefit to pay off a mortgage or settle other debts.
- Consider purchasing a life insurance policy on a non-working spouse as well. If your spouse dies, the proceeds can pay for services such as child care and housekeeping.
For Business Owners
Life insurance is a funding tool that has many applications for small business owners. The proceeds can be used to:- Provide cash to help compensate for losses incurred due to the unexpected death of a key employee. The death benefit could also be used to buy out a deceased partner's interests or train a new employee.
- Attract and retain key employees with deferred compensation that's funded with life insurance.
- Provide cash to equalize an inheritance when leaving your business to one of your children.
- Fund an executive bonus plan in which the company compensates key executives for life insurance premiums and tax liabilities, enabling the valued employee to own additional life insurance.
If your business has several key employees, you might save money by purchasing a first-to-die policy. The policy covers the first person to die, then remains in effect to cover another key employee. Although the policy provides coverage to several employees, the premiums reflect that only one person at a time is covered.
*National Funeral Directors Association, 2025
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Matt Curry is a Financial Planner with, and offers securities and investment advisory services through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with Curry Financial Group, Inc.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
Curry Financial Group, Inc. and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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