Sentences with phrase «cover your debts upon»

You might also need life insurance to cover debts upon your death, such as a mortgage or credit cards, and don't want to leave your family with debts.

Not exact matches

They can draw upon these to cover the increase in scheduled payments or reduce their debt.

If you don't have money set aside for medical or health emergencies — or some type of critical illness insurance plan that covers all costs upon diagnosis — you may end up struggling with medical debt for years to come.

A debt ratio that tests the ability of a company to pay the interest charges on its debt and indicates how many times these charges are covered based upon earnings available to pay them.

Other popular reasons for having life insurance include: Income replacement for dependents; to pay off debt like a mortgage or a line of credit; to create an emergency fund; to cover final expenses incurred upon your death; for estate planning reasons or to leave money to a favourite charity.

Final expense insurance definition: a small whole life insurance policy ranging from $ 5,000 to $ 25,000 where the primary purpose of the lump sum death benefit payout is to cover burial expenses, such as a grave marker and cemetery plot, and other final expenses, such as any outstanding debts that are not forgivable upon death.

Final expense insurance is specifically designed to cover the bills, debts, and expenses that will be left for your loved ones upon your passing.

Your face amount, or «death benefit» is paid to your spouse or heirs upon your death, allowing them to cover any loss of income and pay off any debts you might have, such as a mortgage or a major loan like the one you are pursuing from the SBA.