Life Insurance Adequate Family

No one likes to dwell on thoughts of their own demise, however, should the unthinkable happen, and your family should suddenly be without their main breadwinner, how would they survive financially? Having a plan for providing for the people who are depending on you goes a long way toward being prepared for the possibility that you could unexpectedly leave this world, sooner than anticipated. That plan should involve having a last will and testament, a health care advance directive, and having adequate life insurance coverage.

Life insurance can provide financially for your family in the future. This provision may help prevent your loved ones from experiencing financial hardship that is a direct result of the loss of your income.

Life insurance can help pay for your final expenses. An average funeral in our country may run between $8,000 and $10,000. Unless your family has that kind of extra cash just lying around, you may want to include at least that much extra coverage in the policy you purchase.

  • Note: Some banks and credit unions provide interest-free loans to families that have suffered loss, in order to cover the costs related to funeral expenses until an already owned life-insurance policy provides payment to the family. Proof of life insurance and a death certificate are usually required in order to gain access to these loans. If the deceased was not covered by life insurance, these interest-free loans would not be offered, and the family would be held accountable for final expenses.

Life insurance can help your grieving loved ones to heal. Whether you are the sole provider for your family, or only earn a supplemental income, it is not uncommon for grieving people to use money as an emotional bandage. While money can’t buy happiness, the support provided by your life insurance can enable your loved ones to engage in healing activities, such as traveling to your favorite vacation spots, going to see other grieving family members, or merely taking time off of work in order to rest, grieve, and heal.

If you have questions regarding your life insurance policy, or need to update your coverage, contact us. Our compassionate staff understands that this is a difficult topic to discuss, and would be honored to have the privilege of guiding you through your life insurance purchases.

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