Auto Insurance AUTO

Auto insurance protects you against financial loss if you have an accident.

Read More
Homeowners Insurance HOME

A standard policy insures the home itself and the things you keep in it.

Read More
Business Insurance BUSINESS

Discover the perfect insurance options to meet your specific and unique needs.

Read More
Contractors Insurance CONTRACTORS

Learn about different health coverage options that fit your specific needs.

Read More
Recreational Insurance RECREATIONAL

Finding insurance doesn't have to be difficult. We do the work for you.

Read More
Life Insurance LIFE

Browse a variety of insurance options in order to find the right one for you.

Read More

Family In NatureThe thought of losing a close family member like a child or spouse is likely the last thing you want to face. However, if someone does pass away unexpectedly, that can leave many holes in your life — emotionally but also financially. In these difficult times, financial problems shouldn't be part of the picture.

You want to protect your family from financial losses. Unfortunately, deaths can bring financial hardships. But, with proper protection, you can help lessen some of those potential losses.

Life insurance can be a valuable part of your family's future. Many people think only the family's main breadwinner should have life insurance. However, all members of the family contribute to and use a household's financial assets. You should consider investing in life insurance policies for your whole family.

Keep these tips in mind when considering life insurance policies for family members.

Know Who Should be Insured

Many people wonder if they can buy life insurance for people other than themselves. The answer is yes, with qualifications.

To buy a life insurance policy on another individual, you, the buyer, must have an insurable interest in that person. That is, the death of that person must have some impact on your finances. 

In most cases, a next door neighbor is not an insurable interest. However, your spouse or child is an insurable interest.

Your spouse usually contributes some financial interest to your home. Your child has a financial impact on your home, even if the child doesn't contribute income to the home. A parent who is dependent on a grown child might also have the same impact.

Inquire About Dependent Term Life Insurance

Inquire about the different types of life insurance after you determine who needs coverage. Your company can possibly help. Some employers may offer a policy called dependent term life insurance.

A dependent life insurance usually provides financial assistance in the event your spouse or child dies. The amount varies by different factors, such as the age of the deceased.

With the loss of a spouse's income, you might need supplementary assistance. If a child passes away, there may be residual insurance or education costs. These dependent term life policies can provide financial stability.

The death of a loved one is a difficult and sensitive time. While many people don't want to consider losing a loved one, they shouldn't ignore the possibility.

If you're considering buying life insurance for a family member, we can help you find a policy that best meets your needs. Call Affordable Insurance Group at (803) 798-4499 for a free Columbia SC life insurance quote.
Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2012

View Mobile Version
Homeowners of America
National General
The Hartford
The Main Street
© Copyright 2020. All rights reserved.
Powered by Insurance Website Builder