Getting older is something that most people consider themselves lucky to experience. However, with it comes the reminder that it won’t last forever. When you die, don’t you want to leave something behind to help settle your unfinished business and provide for your survivors?
As they say, nothing is certain except death and taxes. It’s an unfortunate reality that after death, we still leave behind costs that someone has to take care of. That’s where life insurance comes in handy. It can help your survivors better manage your final expenses.
Common Expenses After Death 
When you die, you still have an obligation to settle expenses. Naturally, you won’t be around to handle it, but no one else should have to bear those expenses either. Think of some common, large costs that might develop upon your passing.
- You will need some way to pay for your funeral. In Texas, the average funeral can cost around $10,000.
- Outstanding debts, like mortgages and credit card debt might exist. Creditors will still be able to claim their dues after your death.
- Your family might need to settle medical bills, homes and other end-of-life care costs.
- If you provided income for any members of your family, that source will likely stop. They might need funds to maintain their lifestyles.
You don’t want to put your loved ones in a bind after your death. Even if you had savings, you want it to go directly to those who can appreciate it most—your survivors. Don’t let what you’ve worked so hard to build get eaten up by settlements. By investing in life insurance, you can often receive the funds to settle your final expenses.
How Your Policy Will Pay
After you settle on the coverage you want, you will name a beneficiary to receive the policy’s payout. This is usually an individual family member.
Upon your death, the beneficiary can file a claim with the life insurance company. The company will usually issue the payment on the claim within a few weeks. Your beneficiary often has the discretion to use the money as they choose. They might be able to use it to settle your final expenses or replace your income. One perk about life insurance is that creditors usually cannot claim this money before your family. Consider it a beneficial tool to help you settle this debts once you receive the money.
Determining the life insurance that’s right for you is sometimes complicated. Therefore, work with one of our dedicated agents to get the appropriate coverage.