July 7, 2021
Life insurance can save your house.
A couple owns a beautiful home out in the suburbs. It’s where they’ve raised their children and made memories that will last a lifetime.
Until one of them passes away too soon. Suddenly, the whole picture shifts. See, they are a two income household. They relied on both income streams to buy groceries, cover children’s education… and pay the mortgage.
Now, the surviving partner isn’t simply coping with grief. They’re facing the potential loss of their house, with all of its memories and meaning, as well.
It’s not a far-fetched scenario. Death is one of the Five D’s of foreclosure—the others are divorce, disease, drugs, and denial.
Life insurance can help. It’s the safety net to have in place to protect your family from financial uncertainty and provide for their future.
That’s because the death benefit that’s paid out to your loved ones can cover the cost of mortgage payments, or possibly even pay off your mortgage entirely.
What does that look like in the scenario from earlier?
First, it prevents a personal tragedy from becoming a financial crisis. The last thing a grieving person needs is to have to cope with financial stress.
Second, it means that the grieving partner could keep the house if they so desire. After some time has passed, they can make plans on what the future of their life should look like, without undue financial restrictions.
If that’s a peace you would like to help provide to your family, contact me. We can review what life insurance would look like for you and your budget.