Friday, September 13, 2013

How will your family pay for your final expenses?

Accidents can happen at any given moment. Cancer diagnosis are on the rise. Illness and accidents can change your life in a split second. Are you financially prepared to meet the increasing costs of health care and funeral expenses? The importance of preparing will provide peace of mind knowing there is a plan in place. Life insurance will cover the unpredictable and high expenses associated with end of life issues.

The time to buy life insurance is now. Today you are healthiest you will be. You are buying a financial plan that will provide asset protection for your family. You are providing the finances needed to pay for final expenses generated by death. The world is nothing without free will. Everything must be carefully considered when financial stability is brought into question. It is whether you are willing to take those risks and use your individual situation to your own advantage.

We all have heard the tragic stories happening to people who experienced a sudden loss of a loved one and no life insurance was in force. The survivors are left with a major financial burden and many unanswered questions. Having a suitable plan in place will help your loved ones meet current financial obligations. Life insurance provides financial protection for them. You cannot be faulted for preparation.

It is important to do your research and decide which type of life insurance is suitable for you.  Each of us has our own situation that is different from our neighbors and friends. Only you know what goes on in your household. Keep in mind, what may be best for someone else does not necessarily mean that is the best thing for you. Which is why YOUR needs must considered when purchasing a policy.

So, why have life insurance? Just a couple reasons:

Reason 1

Do you have any bills, a mortgage? This alone is a pertinent reason to have life insurance. This major bill will be paid off and not left to your survivors to deal with.

Reason 2

Young, fit and healthy? Then this is the best time to get life insurance. Your premium will be affordable and if you take out a policy that allows you to keep the same premium until the age of 65, you will have considerable savings... the earlier you start, the better. And then if you develop any health issues throughout your life, it doesn't matter, because you already have the policy in force.

Reason 3

Are you married? Do you have a domestic partner? Should you parish and leave no money behind to help cover bills, you now just placed a heavy financial burden on your loved ones. Do you want to put them through added financial stress on top of the emotional turmoil caused by your death?

Reason 4.

Peace of mind. If you develop a terminal illness, your life insurance will pay out a lump sum upon confirmation from your treating physician. You will have the money to help get your affairs in order.

Having life insurance is a small piece of the pie to make sure you and the future of your family are fully protected.

Good health,
Trisha M. Pacenti RN,BSN