Full Life Insurance | Leave your family assurance of love and security.
The emotional tragedy of losing a husband, a wife, a father or a mother is difficult enough. Unfortunately, that trauma is often accompanied by a loss of income in the form of salary, Social Security benefits or both. And all too often that sudden drop in income means that your survivors are forced to alter their lifestyle just to make ends meet.
QIf you were gone from your family, how much income would be needed by your dependents to maintain their lifestyle?
By the Bureau of Labor Statistics, in a 2 income family, the following are typical income needs to maintain the family lifestyle:
- 70% of the spouse's income
- The home to be paid in full, or rent fund established.
- A college fund provided for dependent children.
- For a spouse, it may mean a return to the workforce;
- For a dependent child, it may mean deferring a college education;
- For a retiree, who could lose more than one-third of his or her household income, it may mean the forced sale of a residence or the need to seek financial assistance.
FREQUENTLY ASKED QUESTIONS
- You have group health insurance through an employer or former employer, including government or military retiree plans.
- You have a Medicare Advantage plan.
- Unaccessible Roadless Area
- Medicaid or the Qualified Medicare Beneficiary (QMB) Program pays your Medicare premiums and other out-of-pocket costs. QMB is one of several Medicare Savings Programs that help pay Medicare premiums, deductibles, copayments, and coinsurance.
- INCOME NEEDS: Based on a Government study by the Bureau of Labor Statistics, two income families need 70% of the gross household income that may permit a family to "remain in thei own world" after the death of a wage earner. In addition, assumption is the mortgage on the residence is paid or a rent fund has been established, and educational expenses are provided for separately.
- To replace the family income lost at your death.
- To pay off the mortgage on your home or to provide a rent fund..
- To have a prepaid college fund for your children.
This gives you the security of knowing that your surviving spouse and family are taken care of and it gives your dependents the peace of mind knowing that their lifestyle will continue after you're gone.