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Family LifeStyle Protection

Family Life Insurance

Why Life Insurance?   

In today’s ever-changing financial environment, it’s  important to know that there are some things you don’t have to worry about. Life insurance can be the foundation of helping you and your family in the event of a loss. It can be the base upon which other insurance and investment decisions are built.
Life insurance is a way to provide cash to your loved ones when you die. Generally free from federal income tax, life insurance proceeds can be used in a number of ways.
Here’s how life insurance can help protect your family.

  • Pay final expenses. Insurance proceeds provide  beneficiaries with an immediate source of cash that can be used to pay medical bills, funeral costs and related expenses.

  • Mortgage protection. Your loved ones can use  insurance to cover mortgage payments or pay off the entire loan, so they can remain in the family home.

  • Income replacement. A sudden loss of income can have a harmful impact on surviving family members. Your family can use life insurance proceeds to maintain their standard of living.

  • Estate planning. For individuals who may owe estate taxes, life insurance can be an effective way to pay the costs of settling your estate. Federal and state estate tax laws are complex. Please contact a legal, tax or estate  planning professional for guidance.

  • Charitable giving. Life insurance can help you expand your generosity to your favorite charity such as your house of worship or alumni association while also providing you with a valuable tax benefit through the certificate’s ownership and beneficiary structure.


Final Expense

What is final expense insurance?

Final Expense insurance is a life insurance product used to cover expenses associated with the death of the insured. It helps with the financial burden placed on families by covering the costs of funeral services (burial or cremation), medical, legal, immediate household expenses, etc .

Some of the most difficult emotional and financial challenges your loved ones will face will happen when you are no longer around. While many of us would rather undergo a root canal than talk about death, taking just a few hours with your  family to discuss your final wishes and preparing for your end-of-life, could spare your loved ones the dual agony of coping with your loss while trying to pay and plan your funeral.

Ask your family how your death will affect them. Will it cause them financial strain? How will it affect their current lifestyles?

• The median cost of a funeral, including vault, in 2012 was $8,343

• Additional costs such as the cemetery plot (which varies by location),  monument, flowers, obituary or other cash expenses, could push the total well over $10,000

• The average household credit card debt is $15,706

Surprised? How will your loved ones be able to help pay your funeral expenses and household expenditures? What about credit cards, medical bills, unpaid  taxes, or any other expenses you may leave behind? What you should know is that Social Security will only pay $2554 for funeral and other expenses, and you must still qualify. This is nearly not enough to cover these mounting costs.

Don’t gamble with your loved ones’ financial security. Contact me today, so you won’t have to worry about your family’s tomorrow.

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