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Home owner insurance
How much money will you need for your funeral expenses?
The following video was published to answer that question by the department of consumer affairs cemetary and funeral bureau.
It is estimated that 70% of men die before there wives, leaving their wives with the burden to keep up with their mortgage and bills alone. Because of the fact that most men are the breadwinners of the household and on average die at a younger age then women do, it is very important for men to have a life insurance policy with their wives listed as the beneficiary in order to secure their wives financial independence when their husbands do pass away. A stay at home mom needs the income when her spouse passes away the most as she will have absolutely no income coming in at that point. Life insurance is a great way for saving for pennies on the dollar and to ensure that your spouse can easily survive in the event of the death of their spouse.
A large part of society depends on social security for their retirement income and many of those people retire in poverty without the means to travel or to enjoy their retirement days. Living on a limited budget is difficult during the years that we should be enjoying ourselves. A great way to add additional income for life is with an annuity. Some people don’t understand annuities, but Social security is an annuity. An annuity is a sum of money that gains interest over time and can be paid out for the rest of your life. If you have a large sum of money in your 401k or in your savings, this is a great way to transfer the money over to an annuity to use for retirement. You can also start out small and slowly deposit funds to your annuity account over time until you are ready to retire. $200,000 can turn into millions for your retirement and supplement your social security so that you can enjoy your retirement days.
Final Expense insurance is a greatoption when you are just looking for enough money to cover your funeral and burial expenses and normally cover anywhere from $5,000-$40,000. It is helpful to decide whether you would like to be buried or cremated in order to figure out how much money you will need to cover your final expenses. Life insurance also has many other benefits included as riders that are available such as long term care for example; If you have an event that puts you in a nursing home for several years or the rest of your life, most people don’t have $2,000 – $10,000 per month in their bank accounts to spend on Long term care expenses and Medicare will only pay for the first 100 days. With a life insurance policy that includes a long term care rider the remaining time in a nursing home will be covered without any out of pocket expenses. There are also riders that include terminal illness, in the unfortunate event that you may be diagnosed with a terminal illness your life insurance policy will pay out early in order to cover those expenses.
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