Which is unfortunate because you cant even attend your own funeral.
Your family has to grieveandworry about money?
Thats when life insurance can help.
After your death, it can help your family stay financially afloat.
If you die, the designated beneficiaries receive a sum of money, called a death benefit.
This money is typically tax-free.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
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This death benefit can be used to cover the cost of your funeral and burial.
Most of us realize that.But most of us dont realize the life insurance payout can cover just about anything.
Did you know?
A life insurance payout could help cushion the blow or pay off the home entirely.
If You Co-Signed Loans or Credit Cards
Unfortunately,debt doesnt typically diewith you.
Creditors still expect payment.
That goes for student loans, mortgages, personal loans and credit cards.
The payout from your life insurance can go toward wiping these debts clean.
So its no surprise medical debt is a serious issue in the U.S.
Although grim to think about (sorry!
), you might require medical attention before you die.
The data shows that bills can accumulate quickly even if youre covered by health insurance.
Life insurance is just another way to help your family cope financially.
For some, that could be half or all of the household income.
The reality is paying the electric bill and stocking up on groceries might become difficult.
A life insurance payout can help cover these everyday expenses whatever the beneficiary needs to get by.
If You Pay Your Kids Daycare Bills or College Tuition
Maybe youve got a kid in daycare.
Or one in college.
Once your kid gets to college, you face wild tuition rates.
Theaverage tuition paidduring the 2016 to 2017 school year was $23,757, according to a Sallie Mae report.
Life insurance can help cover those costs for your kids.
The best part is signing up for life insurance is easier than ever.
It partners with a major life insurance carrier to quickly offer policies as low as $6 a month.
Carson Kohler ([email protected]) is a staff writer at The Penny Hoarder.
Shes ready to write about something a little more cheerful now, like kittens.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
