8 Reasons You Should Add Life Insurance to Your Estate Planning

Life insurance can add several benefits to your estate plan and cover your bases more thoroughly. Rawpixel.com/Shutterstock

Many people tend to look at life insurance as an unnecessary extra expense. They may not understand that life insurance can add several benefits to their estate plan and cover their bases more thoroughly.

Here are eight reasons to consider adding life insurance to your estate plans.

1. It Can Enable Your Spouse and Family to Survive

Settling an estate usually takes eight months or more. MoneyGeek states that federal estate taxes, and some states with estate taxes, require paying them within nine months.