When you think about life insurance, you need to think about your family. It is not something that you will see when you are still alive. It is money that will be paid to your family when you are gone.
Life insurance is necessary if your family depends on your income to pay your bills. Your family can use it for anything they want, including the mortgage, paying off a car and other loans, and even keeping the electricity on!
All your family has to do is contact the insurance company and present a death certificate. Your beneficiary will then get the money to use as they see fit.
When determining how much insurance you need, you need to look at your financial situation. If your family still has a mortgage and other loans, you will need a bigger policy than you would if your family had everything paid off. If you have children who may want to go to college at some point in the future, you may also want to get a bigger plan to help them pay for it.
Life insurance policies can be a great way to protect your family in the future. By paying a small amount each month, your family can get a lump sum of money after you are gone for anything necessary, including paying the mortgage and other bills.
If you want to ensure that your family is taken care of after you are gone, stop in and see us at Bye Financial Group LLC in Grand Ledge, MI. We will be glad to talk to you about life insurance policies and help you find the right plan that works for you and your family.