2 Primary Needs for Life Insurance

There are two financial hazards for a surviving loved one when a spouse passes away:

  1. Burial expense
  2. Reduced income

When the surviving spouse finds there is not an insurance policy that can help with the expenses that come with losing a life partner they only have a few options left:

  1. Borrow from family or friends
  2. Use what cash they have on hand, reducing assets with less ability to make up these funds
  3. Have a family member pay for the final expenses

What many people don’t understand until the time to make this decision has passed is life insurance is for the living, burial expenses and related cost can run from $6,000 – 15,000 dollars. Is life insurance right for you, answer a couple of questions to see if you are set or you need to meet with your trusted advisor to see how you can transfer these financial risk to an insurance company;

  1. Have you ever been responsible for making funeral/cemetery/cremation arrangements when someone died? How did it go for you? Did it create any financial problems?
  2. Who will be responsible for your arrangements upon your death? Is that person financially prepared for such an emergency?
  3. Do you have any children/grandchildren/favorite charity that you would like to leave money to upon your death?
  4. Upon your death, does your spouse have enough savings to protect against the immediate loss or your income?
  5. How much do you expect your funeral expenses to cost if you died today? How much do you think the same arrangements would cost if you lived to be age 80 or 90?
  6. Do you realize your bank accounts and assets are not available to your children immediately upon your death? (Unless you have a joint account which opens up a whole other set of problems.)
  7. Are you aware there are life insurance policies that can be paid with one single premium…an annual payment…an affordable monthly premium?
  8. Do you have any health conditions that have caused you to be turned down for insurance coverage?
  9. If you don’t have a life insurance policy at your passing, what alternative plan will you expect your family to use to pay for the expenses?

An affordable solution providing security for your surviving spouse and family will help to assure them your passing won’t be a financial burden at this most emotionally devastating time in their lives. Meet with a trusted advisor to get the latest information.

Life insurance can be left to:

  • Your spouse
  • Your children
  • Your church
  • Your favorite charity

It can be used to:

  • Pay for your funeral expense
  • Provide income to a surviving spouse
  • Leave behind for special needs

There are many decisions loved ones must make immediately following a loss. Putting together a life insurance program with your trusted advisor so your loved ones won’t have to worry about financial pitfalls that accompany these important decisions will help ease your mind and their potential burden.

Click here to watch my exclusive web class replay of, “Learn 4 Things Seniors Are Concerned About and How to Eliminate Objections!”