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Uses for Life Insurance

April 28, 2015 by John Bush

Life insurance has many purposes. It can allow you to leave a lasting legacy and take the financial burden off your surviving family. Below is a list of some of the most common scenarios Senior Savings Services helps with.

Income Replacement
Often times families plan for the future based off two incomes. Proceeds from a life insurance policy can be used to replace lost income so the survivor can maintain the same standard of living.

Final Expenses
Total funeral expenses can average $8,000 – $10,000 for a traditional funeral (based off the year 2015). Final expenses can also include any outstanding debts, medical bills, or taxes. A life insurance policy can help in covering these expenses during an already stressful time.

Mortgage Protection  
If, after a loss, there are not adequate funds available to cover the mortgage a family might have to relocate. Having a life insurance policy can help prevent that.

Charity Donation
Proceeds from a life insurance policy can be given to a favorite charity or cause.

College Education
A college education is costly. A life insurance policy can help with covering college tuition for a loved one.

Senior Savings Services can help you evaluate the amount you should have and the type of life insurance plan needed. Generally, the younger you are, the lower the rates are for a plan and the easier it is to get approved. If you have health conditions, don’t think you are not insurable. Senior Savings Services has helped get plans issued for individuals with various health conditions including diabetes, heart conditions, and respiratory conditions.

Contact Senior Savings Services at 1-800-592-0819 to learn about which plan can be best for you.

Category iconLife Insurance Tag iconFinal Expenses,  Independent Agent,  Insurance,  Life Insurance,  Life Insurance for Diabetics,  Life Insurance for Heart Patients,  Life Insurance Quotes,  Life Insurance with COPD,  Mortgage Protection

About the Author

John Bush has been an independent insurance broker helping those on Medicare learn of their rights and options since 2010. He has helped many people find the right plan that is best for them. John is passionate about helping people in a manner that is easy to understand, resourceful, and non-pushy. John helps people get the best coverage for their premium dollar without sacrificing customer service.

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Not connected with or endorsed by the United States Government or the federal Medicare program. Medicare has neither reviewed nor endorsed this information. We do not offer every plan available in your area. Currently we represent 6 organizations which offer 44 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Information Program to get information on all of your options.

 

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