What Happens to Your Family if You Die Without Life Insurance?

By John Scott Insurance Agency Lifestyle Comments Off on What Happens to Your Family if You Die Without Life Insurance?

Our client Bill recently came in to discuss life insurance with us.  He is in his late twenties and recently got married and started a family. He had never really thought too much about protection for his loved ones in case of his passing but he had recently considered it when a close friend passed away quickly in an accident.

His friend was also married and had a family.  He was the main breadwinner for the family and took care of all the household bills so his wife could be a stay at home mom which they had decided was best for their family.

When he passed his wife was overwhelmed. Not only had she lost her soul mate and her kids had lost their dad but she now had the funeral costs and a mounting pile of bills to pay and no income.

Overnight her life had been destroyed and now in addition to losing their dad her kids were going to have to move to a small apartment that she found an hour away.  They would be leaving the friends on their block and the home that they had all the memories with their dad in.

This could have all been prevented if Bill’s friend had life insurance to protect his family and Bill knew he didn’t want that to ever happen to his own family.

Dying without life insurance can leave your loved ones overwhelmed, confused and stressed at one of the worst times of their life.

If you have any dependents life insurance can help take care of them financially when you pass away. A life insurance policy helps ease the burden on your loved ones financially, giving them adequate time to mourn and figure out their next steps.

Life insurance can also cover your funeral and burial costs. A funeral is a major expense even if it is the most basic one your family can get.

If you die without life insurance and have leftover taxes or debt, your surviving family will have to take care of those expenses. That means that if you don’t have life insurance that comes out of their pocket personally even when the debts are not theirs.  It will likely put a large amount of stress on them as well as possibly damage them financially while they are taking care of your debt and trying to keep up on their own. The last thing you want is for your family to be hurt because of debts you owed.

There are many different options for life insurance and our agents at John Scott Insurance would love to help you figure out the best plan to protect your family.

 

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