Four Ways Life Insurance Pays Out

Life Insurance Chatham NYHow This Coverage Can Cover Your Family
No matter your season of life, protecting your family is likely a priority for you. You want to ensure that they are safeguarded and their quality of life is preserved, no matter what lies down the road. Consequently, you have probably invested in a life insurance policy. So you can best understand your coverage, here are four ways your policy can pay out.

  • Your Memorial: On average, funerals cost over $6,000. Your family is already going to be having a difficult time adjusting without having to figure out how to foot this bill. Fortunately, the death benefit from your life insurance can cover this cost.
  • Your Hospital Bills: If you incurred bills at the end of your life, you would hate to leave your family with them. Your life insurance coverage can step in to ensure your loved ones are not left on the hook for your medical expenses.
  • Their Expenses: Your loved ones not only have to get used to living without you, they also have to adjust to life without your paycheck. Make this transition easier by carrying enough life insurance to cover their living expenses.
  • Your Mortgage: If you opt for whole life insurance, which builds cash value, over term life insurance, your payout could be sufficient to cover your mortgage, taking that financial burden off of your loved ones.

To learn more about the specific ways your life insurance can safeguard your family, contact Lofgren Agency. We are life insurance experts—it is one of our areas of coverage specialty—and can help you pick the perfect policy to protect your family in every important area. For all of your policy needs in Chatham, Hudson, and the entire state of New York, do not wait to call our team.

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