Life insurance is a way you can protect your family and loved ones, even after you pass away. Rather than leaving your family with existing debt, funeral expenses and other everyday costs, they'll receive a tax-free death benefit or payout. This can provide financial security and stability. With a life insurance policy, you're prepared for the worst but can plan for the best.

In Original Medicare, you generally pay some of the costs for approved services. Medicare Supplement Insurance (Medigap) is extra insurance you can buy from a private company that helps pay your share of costs.