8 Financial Habits That Will Help You Build Wealth – GOBankingRates

Many families are using life insurance as a foundation to provide protection and build wealth within their families. 

Paul LaPiana, CFP and head of product at MassMutual, said securing life insurance for children or grandchildren when they are young provides them with security throughout their lives. 

“Life insurance provides unique benefits to both the insured and to the insured’s family or descendants,” LaPiana said. “Life insurance policies can provide cash values to cover emergencies or to help supplement retirement income.

“Policies can be designed to provide future long-term care benefits or provide a resource to pay for chronic care needs. Ultimately, death benefits are available to help care for spouses, children or grandchildren.”

Source: https://www.gobankingrates.com/money/wealth/financial-habits-that-will-help-you-build-wealth/