Life, Burial, and Long Term Care Insurance
A colleague once said, “if you love someone, or owe anyone, you should have life insurance.” Not only life insurance, but the ability to use it for long term care is important.
Let’s face it, no one likes to think about death. It’s an uncomfortable thought. We sure as heck don’t want to imagine the unexpected loss. Sadly, I have heard many stories of families who don’t know what to do with the cost of burying a loved one, not to mention the time you’ll need to grieve (take time off work).
A personal story:
When my brother passed away on 4/7/16 (at the age of 44), he didn’t have any life insurance, so the burden of paying for his funeral added to the extreme sadness we felt from his loss. Thankfully, a dear friend (and colleague) started an online donation account for us, which raised some of the money, but then a large portion had to be charged to credit cards (we’re still paying the interest on that). I also learned a lot about burial, the cemetery, the funeral service. I had some idea of how much it costs because I have clients and others who have talked to me about it. We chose a reasonable location and the least expensive casket, and reasonable funeral service, but it was still $18,000!
According to Parting.com, the average funeral cost in the United States is between $8,000 - $10,000 (not including some other potential costs). https://www.parting.com/blog/category/funeral-and-cremation-faqs/
Just a few reasons to have life insurance:
1) Planning to replace the income of your loved one
2) Provide for the cost of raising children
3) Financial investment (tax-free)
4) Living benefits for terminal illness available
• Have you looked at getting a life insurance policy in the past, but thought it was too expensive? The older you get, the more expensive it becomes.
• Give a gift of a Whole life policy to children. This policy rate will lock in at their young age, will double in face value when they turn 18, it will build cash value (loans can be taken on the policy), and it provides the security of knowing they are covered. Download Information
• If you have a condition and think you can’t get covered, there are Guarantee Issue policies, regardless of condition. Download a rate sheet here to see how much (Boston Mutual Rates).
• If you purchased life insurance more than 10 years ago, now is a good time to review. We offer a free, no-obligation policy review and advice. Call Us Now to discuss.
Another Story For Why
Use the calculator on this page to see how much you’ll need.
Something to consider…
• Even with basic life insurance, placing the burden of choices on your loved ones, can be daunting. If you have it all arranged, that helps to reduce the stress of the loss.
• Life insurance claims cannot be paid without a death certificate. In many states
• What is important, is a reputable, reliable resource, that answers the need for final wishes and arrangements.
Please use our tools to determine how much life insurance you’ll need.
Long Term Care
Give yourself a choice for the type of care, where you get care, and protect your assets with a Long Term Care option. Many life insurance policies provide Long Term Care benefits. Get Info Now
For more detailed info, reference: