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Some Uses for Your Life Insurance Benefits

some-uses-for-your-life-insurance-benefits

Life insurance is often part of a person’s financial strategy. That’s because Insurance Services in Hialeah, Florida can help ensure the financial future of your dependents after you pass away. It sounds grim, but it’s true.

Aside from covering your final expenses, life Insurance in Hialeah, Florida also provides a financial safety net by helping to replace your income or serve as an inheritance for a loved one who is reliant on your paycheck.

There are other ways to use your life insurance benefits, and J. E. Insurance Associates DBA Amco Insurance is here to talk about them. Take a look:

  • Paying off existing debt. If you took a housing loan or an auto loan before your death, your surviving spouse, partner, or children will have to pay those off. The money they will receive from your life insurance policies can be used to pay any existing debts or mortgages.

    Your insurance can also help pay for existing insurance policies you and your spouse may have purchased, such as auto insurance in Hialeah, Florida.

  • Your children’s college fund. Since life insurance can help replace your income when you pass away, your beneficiaries can use the money to pay for your child’s/children’s college education.
  • Inheritance. Some people purchase life insurance to leave the benefits as an inheritance to their children and loved ones. If you have a specific person in mind to inherit your benefits, we suggest you name your chosen heir as the beneficiary on your policy.

If you have more questions about life insurance, give us a call at 786-243-9222.

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