For many busy people who juggle family, career and other obligations, Life Insurance is simply a benefit that you receive from your employer. It’s something that you simply “check off” the list as “taken care of.” But what many people in their hurried lives do not realize is that often, the Life Insurance policy that your job provides is not enough coverage for your family. Life Insurance is an essential and indispensable aspect of planning for your future. Below are four reasons why Supplemental Life Insurance is an important consideration.
1. The Average Cost of a Funeral in the United States is $10,000 in 2015 – According to Kiplinger’s Magazine, funeral costs climb an average of 6% a year with many added fees and services not even considered by the loved ones.
2. The Average Cost of Raising a Child Through Age 18 – According to the U.S. Department of Agriculture and CNN Money, to raise a child born in 2013 to the age of 18 will cost a middle-income couple just over $245,000. This does not include the cost of college. If you have four children, that is almost 1 million dollars in lifetime expenses.
3. Suddenly, Your Household Income Diminishes – If you are the primary “bread winner” in the family, your paychecks will stop once you cease to work. Even if your spouse has a full-time position, the household income will decrease dramatically if you are not here.
4. Mortgages, Car Payments, and Everyday Expenses Remain – The bills and obligations still have to be met even if you are no longer with us. No one wants their loved ones to have to sell their home or automobile, drop out of college or uproot their lives because of a death.
At Warwick Resource Group we strive to keep our customer and their families safe and free from harm and worry. Just click on the links below to learn how to further protect your assets and plan for you and your families future:
CLICK HERE AND CLICK HERE