What Is Estate Planning — and Why Life Insurance Matters
October 21, 2025
Every October, Estate Planning Awareness Week (Oct. 20 — 26) shines a light on one of the most meaningful ways we can care for our loved ones: by making a plan. While the term "estate planning" may sound like something reserved for the wealthy, the reality is far more inclusive.
Estate planning is about ensuring your wishes are known and your family is protected. And one of the simplest and most powerful tools in your plan is life insurance.
What Is Estate Planning?
Estate planning is the process of determining what happens to your belongings, responsibilities, and care in the event of your passing or inability to make decisions. Your "estate" includes everything you own — from your home and car to bank accounts, personal items, and even your digital footprint.
It's a myth that estate planning is only necessary if you have significant wealth. If you have people you love or assets you care about, you have an estate worth planning for. Common estate planning tools include wills, powers of attorney, healthcare directives, and, yes, life insurance.
According to Cornell Law School, estate planning also includes naming guardians for minors, minimizing taxes, and ensuring your assets transfer smoothly to heirs. It's not about preparing for the worst — it's about protecting what matters most.
How Does Life Insurance Fit Into Estate Planning?
Life insurance is one of the few financial tools that delivers immediate benefits to your family when they need them most. It provides liquidity — meaning fast access to funds — to help your loved ones cover funeral costs, outstanding debts, mortgage payments, or daily living expenses.
Even more important, life insurance offers emotional reassurance. It sends a clear message: "I've planned ahead for you." And because life insurance proceeds typically bypass probate, your beneficiaries can receive the support without delay or added legal stress.
At 1891 Financial Life, we believe in life insurance not just for what it is, but for what it does. It transforms grief into security and uncertainty into stability. Our Life Insurance Calculator can help you estimate the coverage amount that fits your goals.
Beyond Money — Creating a Legacy of Care
Estate planning is more than a checklist of documents. It reflects your values. Life insurance is one way to extend your care long after you're gone. It's about making sure your children can attend college, your spouse can stay in the family home, or a charitable cause close to your heart can carry on your legacy.
As a not-for-profit fraternal benefit society, 1891 Financial Life stands behind these ideals. We're more than a provider of financial products — we're a community partner. Proceeds from our products help fund scholarships, volunteer initiatives, and programs that give back. That means your plan to protect your family can also help support families across the country.
Estate Planning Is for Everyone
Estate planning isn't about how much you have — it's about who you love and what you want to leave behind. Whether you're just starting or looking to update your plan, life insurance remains one of the most accessible and compassionate steps you can take.
This October, during Estate Planning Awareness Week, take a moment to review your coverage and update your wishes. Your family will thank you for it.
At 1891 Financial Life, we specialize in providing tailored insurance solutions that cater to diverse needs. Our team is equipped to help you navigate these challenges with expertise and compassion. Contact us today for personalized assistance and to explore your options.
About 1891 Financial Life
Our culture is about looking out — for you, for others, for family, for the community. That is how we go “Beyond Life Insurance.”
At 1891 Financial Life, we don’t just sell policies, we offer possibilities. We pride ourselves on giving back to the communities that we serve by providing quality and comprehensive insurance solutions. We are a not-for-profit life insurance Society, which means the sales from these financial service products help fund member benefits along with social, educational, and volunteer programs designed to respond to community needs. In 2023, 1891 Financial Life was listed by Forbes as one of "The World's Best Life Insurance Companies."
Our portfolio is extensive, ranging from various life insurance policies to our annuities to support your financial needs no matter what stage of life you’re in.