What options do you have to pay for final expenses at death?
While it is true that, financially, the life insured won’t ever see the payout of a life insurance policy, the mental and emotional benefits of knowing that you have something in place to protect your family if are worth discussing.
If you go to Go Fund Me and search the word “funeral”, you’ll see pages and pages of fundraisers organized to help pay funeral costs and final expenses for families who were not prepared for the financial burden of losing a loved one. When you think of your family, and what they would be going through if they lost you, do you want to add “organize charity fundraiser for funeral costs” to their list of burdens?
Life insurance is designed to help prevent a financial crisis upon the death of a loved one. It provides a lump sum, tax-free payment and allows your family to grieve their loss instead of having to share their Go Fund Me on Facebook. It gives them time to breathe, instead of having to head right back to work so that bills continue to be paid or sell the family home because the mortgage is too much for one person to carry. Having life insurance coverage shows that you care so deeply for your family that you want to be able to take care of them in the event of your death. Simply said, protecting one’s family using life insurance adds to the legacy of your love and compassion by protecting your heirs.
There is no “one size fits all” life insurance plan. Let’s sit down and do a Needs Analysis – the only way to accurately determine how much coverage you need, and how long you need it for. Then we can design an insurance strategy using the various products and carriers that we have access to. Together we’ll continue to review the plan and make changes if required. And when the day comes that your family needs to make a claim on that insurance policy, our team will be there to make the process as quick and simple as possible, to get those much-needed funds into their hands.
Reach out to our office if you want to review your existing policies or talk about a new one.
We hope you enjoy your summer with family and friends, and please stay safe.