Sentences with phrase «dependents live a debt»

Settling these debts will help the existing spouse or dependents live a debt free life.

Not exact matches

He lives in North Braddock, Pennsylvania, a withering town dependent on steel production, and is working around the clock to pay off his brother's debts with local bookie, John Petty (Willem Dafoe, «The Hunter»).

If you don't have dependents or outstanding debt that would be passed on to others, a term life insurance policy is likely not appropriate.

However, if you're just in market for life insurance to replace your income, pay off outstanding debt, or financially protect your dependents in the event you die unexpectedly, term life insurance may be a better option for you.

You need life insurance if you have dependents or debt.

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.

Everything else being equal, the main reasons to purchase permanent insurance are: (1) if you have a dependent, such as a special - needs child or handicapped loved one, who relies almost solely on your income to live and who will need to rely on it after your death in perpetuity, or (2) if you have few, if any, other assets and don't actively plan on having any that could be used to cover the cost of your funeral, to pay off any outstanding debts, or to provide some inheritance to your family.

Even if you do not have dependents, it is a good idea to look into buying life insurance if you have student loan debt or cosigned on a student loan.

To figure out how much life insurance you need, add up your expenses, such as debt and loan payments, the cost of caring for your dependents, and how much of a financial cushion you want to leave your beneficiaries.

Even if they do not yet have dependents (children of their own), millennials may also wish to consider life insurance if they provide financial support to their parents or carry student loan debt for which a family member has co-signed, said Reardon, noting term life insurance on young, healthy adults «is incredibly cheap.»

By the 407 refusing license plate renewals until the debt was paid in full they were refusing the financial relief these debtors needed in this challenging financial time in life as well as potentially preventing debtors from continuing to earn a living if their job is dependent on having a valid driver's license.

«The couple focuses on paying off their debts quickly, but they understate some expenses such as a need for life insurance while their kids are dependent, clothing for themselves and their brood, drugs and even recreation.

One of the primary goals of your life insurance policy is to help your dependents pay off any expenses that you leave behind, like your mortgage, funeral expenses, medical bills, student loans, and many other debts.

Term life insurance is a different kind of life insurance meant to provide financial protection for a set period of time — usually while you have dependents or outstanding debts that could be transferred to others such as student loans.

Even if you don't have dependents, purchasing a life insurance policy can be an excellent way to cover your debts and provide for survivors if you should pass away unexpectedly.

Truth: Even if you don't have dependents, and even if you are single, you still should have enough life insurance to help cover your debts, any medical bills and funeral costs.

With no life insurance a deceased's person's debt would simply be handed down to his family dependents.

If you are getting life insurance purely to cover debts and have no dependents, there is another way to go about it.

If you have no dependents or no debt that would have to be paid off by another person when you die, then you probably don't need life insurance.

Typically, you or your loved ones might choose to buy senior life insurance policies when changing policies, arranging to pay off debts, planning for longer lives, protecting a spouse or dependents or covering burial expenses.

Term life insurance is a different kind of life insurance meant to provide financial protection for a set period of time — usually while you have dependents or outstanding debts that could be transferred to others such as student loans.

Life insurance is meant to protect your dependents against debt and financial hardships that they wouldn't otherwise be able to cover.

The life insurance death benefit protects your beneficiaries from shouldering an immense financial burden, and can pay for college, dependent care, and other debts that you may have incurred while alive that your family could be responsible for.

A majority of people don't need their life insurance policy to stay in place for their entire lives; once they pay off debts, have fewer dependents, and become self - insured, it's usually not worth paying for a policy.

Then, when you're older — and when your term life insurance policy is expiring — you've paid off a lot of your debt and have fewer dependents, so your coverage needs have dropped.

There are five major financial obligations to think about when calculating the amount of life insurance you can need, like college costs, childcare and dependent care, debt, end - of - life expenses and developing a financial cushion.

Moderate decision: Take out as much life insurance to eliminate all debt and provide for 5 - 10 years of living expenses, long enough for your dependents to become independent e.g. $ 500,000 debt + $ 100,000 X 10 = $ 1.5 million term policy.

Jennifer: If you take the check up and like you said you don't have any dependents, you don't have any co-signed student debt, we will tell you, you don't need life insurance right now.

Life insurance is useful for people who have dependents and large debts.

Riskiest decision: Of course, the riskiest decision of all is to not take out any life insurance when you have dependents and debt.

The amount and type of life insurance you need depends on factors such as income, your dependents, debt, lifestyle, and how much risk you are willing to take.

Most conservative decision: Take out as much life insurance as possible to completely eliminate all debt plus provide money left over to pay for living expenses for the rest of your dependent's lives.

If you do not have someone dependent on your income then get enough life insurance to cover your debts and the funeral.

If you have no dependents or have money saved up for your final expenses and burial costs with no other debts, life insurance isn't necessarily a must.

Dependents and long - term loans or debts are two of the most common reasons to purchase life insurance, but there are many more.

However, if you're just in market for life insurance to replace your income, pay off outstanding debt, or financially protect your dependents in the event you die unexpectedly, term life insurance may be a better option for you.

The majority of young, healthy individuals are not actively thinking about ways to cover future expenses because those expenses may not yet exist; however, it is easy to cover final expenses, spousal income replacement, dependent care expenses and debt coverage with life insurance well before the need for coverage is apparent.

If you are a single person with dependents, your Life Insurance consideration can be debts, expenses for your surviving dependents, education costs for surviving children, medical bills and funeral expenses.

Even if you do not have dependents, it is a good idea to look into buying life insurance if you have student loan debt or cosigned on a student loan.

Couples buy life insurance for a variety of reasons, including covering existing and anticipated debts and financial obligations as well as providing an income and / or inheritance for dependents in the event of the death of one or both of the spouses or partners.

If you are a single person with no dependents, the question of your Life Insurance needs may resolve itself to debts, credit cards or student loans, medical bills, funeral expenses, and supporting elderly parents depending on you for support.

That's because the profits from a life insurance policy can be used for a multitude of things, including the settlement of debt by survivors, ongoing payment of everyday bills by a spouse and other dependents, and / or for paying one's funeral and other financial expenses.

The amount of life insurance you need depends on factors such as your other sources of income, how many dependents you have, your debts, and your lifestyle.

Credit life insurance can protect an individual's dependents in that they will not be saddled with debt should the borrower die prior to paying off the balance.

But whether or not you work in a dangerous profession — the importance of life insurance for those with dependents, mortgages, loans, debts, business partnerships, and numerous other financial situations, remains.

Your dependents, debts, and standard of living should all be taken into account.

Similarly, if your financial dependents currently live off of $ 50,000 per year and you have a $ 200,000 mortgage, $ 25,000 car loan, $ 20,000 in student loans and $ 5,000 credit card debt, you can add the $ 1,250,000 required for income replacement to the $ 250,000 debts, and choose to purchase a $ 1,500,000 policy.

There are five financial obligations, plus your current savings, that can help you decide how much coverage you need and for how long: college costs, childcare and other dependents, debt, end of life expenses, and a financial cushion for your family.

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If you don't have dependents or outstanding debt that would be passed on to others, a term life insurance policy is likely not appropriate.