Life insurance
Life insurance can insure your legacy is left intact. If you have a loved one with special needs ,life insurance can be incorporated into your plan to provide for that person. If you have an income stream (like a pension or Social security) that will stop at your death, life insurance can provide needed cash or income. In most cases life insurance benefits are income tax free.
Life insurance allows you to create an exact dollar amount that can be left to a loved one, business or charity. There is always an economic loss when someone passes away.