Have you been considering life insurance but haven’t taken the plunge yet? If so, you may want to give insurance another look—it can provide valuable benefits in both the short and long term.

First and most immediately, life insurance can provide invaluable financial protection for your family. If you’re the primary breadwinner, and something happens to you, your family will be left in a difficult financial position. Life insurance can help to ensure that your family is taken care of financially in the event of your death.

Life insurance may also be considered a sound investment. Many life insurance policies offer a slight return on your money. This return, called a “cash value,” can be used as a source of funding in times of need. In some cases, you may even be able to borrow against your policy.

In addition, life insurance may be used as part of an estate planning strategy. This can involve taking out a policy and designating a beneficiary, which means the beneficiary will receive a payout directly once the policyholder passes away. This can help to ensure that your estate is distributed according to your wishes, rather than getting tied up in probate court.

Finally, life insurance can bring peace of mind. Knowing your family will be taken care of financially in the event of your death—or in the event that you have a long and difficult illness—can give you and your family valuable reassurance.

Life insurance can be an important tool in planning for the future. It’s worth taking a look to see if life insurance provides the financial protection and peace of mind you’re looking for.