|
|
Determining your needs for life insurance?
|
- Final Expenses - These could be unpaid hospital bills,
funeral expenses, unpaid debts, probate costs, and estate and
inheritance taxes.
- Readjustment Fund - This may be used to cushion the
immediate lifestyle adjustment that a family must make when a loved
one dies. The family may be forced to move, or the surviving spouse
might have to look for a new job. In addition, a working spouse may
find it difficult to return to work immediately after the death of a
partner. The readjustment fund allows for adequate bereavement due
to loss.
- Supplemental Income - After the readjustment period,
there should be a consistent income stream to help pay for the
family's living expenses, such as mortgage payments, monthly bills,
and daycare.
- Educational Funds - Adequate funds should be available
for the childrens' education. This might include elementary school,
high school, and college.
- Retirement Fund - There should also be adequate funds
available to ensure that the spouse can retire comfortably.
|
Click Here for FREE Insurance Quotes!
Life insurance info center :
|