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.
