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Life Insurance

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LIFE INSURANCE

 

When Life insurance is mentioned, the first thought is that it is used to replace the loss of income that occurs when someone dies.  However, a good life insurance program does more than just this.  It also provides money to cover costs that arise after the insureds death, such as, funeral expenses, probate costs and taxes.  It can also cover such things as the need for housekeepers or childcare, or even the cost of any continuing expenses while the spouse gets and education to enter or reenter the workforce.  This form of  Life Insurance can be thought of as Cash Benefits for Final Expenses.  The average funeral today costs nearly $6,000. and then there is the extra cost of the burial site, the burial container,  opening and closing of the grave and the monument or marker. These additional items can cost from $2,000 to $12,000.  Where will this money come from to pay your final expenses and obligations?  Loved ones have enough on their minds just in losing you and don't need the additonal doubt and worry associated with this financial burden.  Low cost affordable Whole Life Insurance which pays cash for funeral and other expenses is available to everyone, no matter what their age or current health.

 

 

Family walking along the shore at sunset

Depending on the plan or life insurance, it can further be used for creating capital for a familys future financial needs including a college education for the children of the insured or the retirement needs of the insured and spouse.

 

Since there are so many types of life insurance, life insurance should not be thought of as a death benefit only.  It is important that an individual first learn the basics of the different types of life insurance available and then analyze what their needs and goals are so that they can make an informed choice.

Diamond Eagle Agency Ltd, LLC
625 Arch St., New Britain, CT 06051