What Happens When You Die?

Depends on who you ask…. Your own spiritual or religious beliefs may provide answers regarding the journey of your soul but what about the on-going earthly matters? What happens when you die? Medical personnel, hospice workers, mortuary personnel, cemetery workers, lawyers, local, state and possibly federal tax authorities, bankers and insurance agents can each offer different answers from their various professional perspectives because each has a specific and often important role when someone dies.
One thing nearly all of us will have in common when we pass away is that there will be bills to be paid. There may be medical bills, long term care and hospice bills to be paid. Funeral expenses can vary widely and can often cause financial strain on the grieving family. The family may need to hire movers to help relocate or dispose of personal items. They may need to rent storage space for personal property until it is decided what to do with various items. There may be legal bills, estate taxes… the list of details goes on.
More importantly, when someone passes away unexpectedly while supporting a family, the loss of income can be devastating to the surviving spouse and children. Is there a mortgage to be paid? Auto loans and credit card debt? Are there children in school? Will the children be able to go to college? Depending upon the age of any children, there may be daycare expenses. If the children are young, the surviving spouse may want to be at home with the children and only work part-time or not at all. We all hope to be able to raise our families and live to a ripe old age but, it is important to prepare for the unexpected.
An experienced life insurance professional can help determine your survivors’ financial needs and design a plan to protect your assets and your family. We all know that Life Insurance can be purchased directly through various sites on the internet however there is a lot more to buying this protection than finding the lowest price. There are many basic types of policies including term insurance, whole life, variable and universal life policies. Each of these policies can have dozens more features, benefits and provisions that may or may not fit your specific needs. Nobody wakes up in the morning thinking, “gee, I’d like to spend an hour talking with a life insurance agent tonight,” but there is a reason agents must be licensed and take continuing education classes for their profession. They know the” in’s and out’s” of life insurance policies and have been trained to help clients determine their specific needs. Additionally, when someone dies, a good agent can assist with filing the claim and help survivors determine the best way to receive their death benefit.
Educate yourself as much as possible but enlist the help of a licensed life insurance agent or financial planner before you buy. Chances are that the policy won’t cost you any more than that internet policy (assuming you buy the right one) and you’ll have the peace of mind knowing that if the worst happens, your loved ones will have the financial resources they need to carry on.

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