Learn about Life Insurance and How to Get Affordable Protection for Your Loved Ones.
Friday, July 15, 2016
What does Life Insurance Cover?
Life insurance can be used to cover a variety of common expenses including:
1. Co-signed debt including student loans
2. Mortgages
3. College expenses for your children
4. Living expenses for your family
5. Stay-at-home labor expenses (cooking, cleaning, errands.)
6. Burial expenses including funeral, casket, memorial service, etc.
7. Loans from family members
8. Estate taxes that your heirs must pay for other assets
Life insurance funds usually go to your beneficiaries free from any federal taxes.
Your beneficiaries can use the proceeds from your life insurance policy for anything they choose to save or spend the money on.
Life insurance can replace your income and help to maintain your family's lifestyle.
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