In life, we make many decisions. We are sometimes stressed over difficult decisions, particularly financial ones. It may be frustrating to find low cost burial insurance in SC. After all, it’s our hard-earned money and today’s choices can have long-term consequences. It’s only natural to feel stressed about financial choices. Solving problems with Life Insurance can be very effective and comforting. Read on…
For most people, their first experience with life insurance is observing their friends or family making a purchase. When they speak to an insurance agent, they feel they are being sold something when they really wish they felt they were buying something. No one wants to be pushed into a decision, especially when the topic is important.
Rather than being pushed into a decision, it is better to know the facts and reasons for making such a choice. Then the decision is ours; we are doing the buying and not being “sold”.
The Rationale for Buying Life Insurance
There are different kinds of life insurance and Final Expense life insurance (often called Burial Insurance) and each has its own usefulness. When we get married, start a family or begin a business, we appreciate that life insurance is not only fundamental but also indispensable to a better financial plan and the livelihood of our survivors. In reality, a Final Expense insurance plan can solve more than just the issue of burial expense. It can be a huge statement of LOVE.
- Paying Final Expenses: (The popular use of a FE plan) When one dies, the charges for burial or funeral can run into thousands of dollars. We don’t want our spouse or children to suffer financially at our death.
- Covering Children’s Expenses: Not only do we want to ensure that our children or grandchildren are looked after well, we also worry that they will be provided for and that they are able to receive their desired education. To protect children’s future, or to leave them a legacy, many people use additional insurance coverage.
- Replacing Spouse’s Income: In some families, the income of both husband and wife is necessary to make both ends meet. For a retired couple, the surviving spouse will no longer receive the lower of the two Social Security checks. A life insurance policy can be of great help in case it becomes necessary to replace lost income for some time.
- Payment of Debts: Debts related to a mortgage or end-stage medical bills may compel the survivor to sell the home at a huge discount. With insurance coverage, the surviving spouse will have time to either prepare the house for sale at a fair market price or prepare the home to rent before moving to a smaller place. Insurance is not delayed by probate but pays right away, thus helping the surviving spouse immediately. This can be a great use of low cost burial insurance in SC.
- Simplifies Matters in Connection with Estate Taxes: Having insurance in place can simplify matters in connection with paying estate taxes, which can be steep at times.
- Purchasing the Shares of a Business Partner: For those engaged in a business partnership, getting insurance on each other’s life is a common practice. It enables the surviving partner to have sufficient funds to buy the other’s shares from their heirs.
Solving problems with Life Insurance
“Nothing is certain but death and taxes.” Because we don’t know when death will occur, we take steps to protect our family and business. Life insurance is not for us. It is for our survivors, and our legacy. It would be terrible to be remembered for the impact of our death rather than the protector we’ve been! You can find low cost burial insurance in SC. Solving problems with Life Insurance can be a creative way to send a final message of “I love you”.