Life insurance provides your loved ones the means to continue after you have passed away and also provides for your burial or cremation.  Life insurance also allows you to leave a legacy for your family.  Would you prefer they remember how you had your affairs in order, or them wishing you had?

It can be used to:

• Replace lost income
• Pay off debts and mortgages
• Cover funeral expenses
• Fund children's education
• Provide financial security for loved ones
• Assist with estate planning

Life insurance is commonly recommended for:

• Parents with dependent children
• Parents with Children in College
• Married couples
• Homeowners with mortgages
• Business owners
• Anyone whose death would create a financial burden for others
• Any individuals wanting to have something that will be there for their life time or creating a retirement supplement.

While that may be true, you will need to consider the following:

Your estate, savings and investments are subject to probate so whoever is handling this will probably have to pay for this outright when they meet with the Funeral Home. 

Most Funeral Directors want to have the money upfront before starting anything or at the very least know where and when the money will be there

Many people will end up putting this on a credit card or pay it out of their own pockets with reimbursement happening down the road once all debts are paid.  This can take any where from a year to multiple years depending on the complexity of the estate and each state's probate rules. 

How would something like this affect your loved ones?

Life Insurance avoids the probate process and would be available to help your family with the final expense costs as well as any other costs they would have to use through the probate process.  (Court Fees, Attorney fees etc.)

There is no single best policy. The right choice depends on goals and your individual situation.  Here is a brief run down.

• Term Life: Affordable income protection
• Whole Life: Lifetime coverage and guarantees
• IUL: Lifetime coverage with cash-value growth potential
• Simplified Issue: Faster approval
• Graded Issue: Coverage for people with health issues
• Guaranteed Issue: Coverage when other options are unavailable

These are factors insurance companies take into consideration when determining acceptance and premiums.  It is not an all inclusive list as some companies also use various reports and and actuarial tables

• Age
• Health
• Gender
• Tobacco use
• Coverage amount
• Policy type
• Occupation and hobbies

Generally, yes. Premiums usually increase with age and declining health.

Yes. Options may include:

• Simplified Issue policies
• Graded Benefit policies
• Guaranteed Issue policies
• Specialized high-risk underwriting programs

Instant or a few days for some no-exam policies

Several weeks for fully underwritten policies

Not always. Some policies require one, while Simplified Issue and Guaranteed Issue policies generally do not.