shopify analytics ecommerce
tracking

Life Insurance Secures

Your Family's Future

The effect of life insurance after the death of a breadwinner can be interesting to observe.

I guess it would be best to first look at the situation without insurance coverage. A hypothetical example may also help.

Jim is age 42, married and has 2 children ages 14 and 16. Jim started a little late as he wanted to prepare for his upcoming family. His wife Alicia is age 38.

Jim developed terminal cancer and was quite aware that he didn't have much longer to live. Alicia Never worked because she felt she wanted to focus on raising the children.


Secure Your Family's Future With Life Coverage From Highly Rated Carriers - Save Up To 70%


Life Insurance

Jim and Alicia were doing quite well. Jim's income was more than sufficient to live on. They owned their own house. They had talked about buying an insurance policy but never seemed to get around to getting a program started.

Jim is devastated because he is very aware of the problems the family will have after he is gone. They have a savings account with about $40,000. They were thinking of college education for the children when they started saving.

Upon Jim's death that money will disappear very quickly if he has no life insurance.

  • Picking Up The Pieces

    On the other hand let us suppose Jim and Alicia were smart people. They did plan ahead. They have a pension plan and, fortunately, they have some coverage. Jim has $2,800,000 20 year term insurance on his life and Alicia has $500,000 of the same type policy on her life.

    The policies on Jim's life will first pay off the mortgage upon his death and in addition to that provide sufficient income for the family to live not only till the children graduate college but for as long as Alicia lives.

    Alicia insisted on her policy because she felt that if she should die prematurely the funds could go to pay a qualified nanny to help raise the children. That is a good idea.

    Upon Jim's death everything will go smoothly. Alicia is quite capable of managing everything efficiently. The mortgage will be paid off within 6 months. The insurance companies used a life income option with a 10 year certain payment period, just in case Alicia should die before the children graduate college.

    They will continue to live in the same house. The children will go to the same school and still have the same friends. Jim will be missed by his family but he will always have a special place in the hearts of his wife Alicia as well as their 2 children. They will know he cares.

    This is an actual, real life, case. I just changed the names. Jim is terminal but is holding on.

    You qualify for life insurance by answering a few health questions. Your answers are verified by the Medical Information Bureau and a Prescription Report.

Leave Your Loved Ones Worry Free - Get Free Quotes Here


Home | Life Ins Articles | The Effect Of Life Insurance -The Death Of A Breadwinner

Copyright © 2004 - 2019 LifeInsuranceHub.Net. All Rights Reserved.

Protect Your Family With Up To $1,000,000 No Exam Term Insurance.

Tools And Resources

Life Insurance Need Calculator

Recent Articles

  1. 20 Year Term Insurance Policy - 20 Year Life Insurance

    The 20 year term insurance policy is one of the most sought after life insurance policies.

    Read More

  2. No Exam Life Insurance - Buy No Medical Term Life Insurance

    No exam life insurance can make simple what could otherwise be a tedious exercise.

    Read More

  3. Free Life Insurance Quote | Quality Life Insurance Quotes Free

    Let us be your guide through the process of acquiring your free life insurance quote.

    Read More

  4. 15 Year Term Life Insurance

    When you purchase a 15 year term life insurance policy you enjoy level insurance coverage for the entire 15 year period.

    Read More

  5. 10 Year Term Life Insurance Policy - 10 Year Term Insurance

    If you are looking for inexpensive life insurance may be the 10 year term life insurance policy would fit your need perfectly.

    Read More