Sentences with phrase «income replacement for»

That policy will act as income replacement for your family, to cover debt, and yes, to pay for future family expenses such as a child's college tuition.

A life insurance trust is not necessary if you are purchasing life insurance as income replacement for your spouse.

The two most prominent needs for life insurance in my mind are income replacement for the care of children, and in the absence of children for the benefit of a spouse.

Some of the more common reasons that retirees decide to purchase a life insurance policy include providing income replacement for their spouse, leaving an inheritance behind, preserving their assets from estate taxes, or providing cash to pay off any outstanding debts or medical bills they may leave behind.

Learn how millions of Americans utilize term life insurance as an affordable way to provide income replacement for their families.

Such a plan will act as the income replacement for your family members.

Pacific Guardian says that whether you're buying life insurance to help with expenses like your home mortgage, to provide income replacement for your loved ones, to provide for your children's education, retirement, or to pay for estate taxes, they will work with you to design a life insurance plan to fit your needs perfectly.

Life insurance is often viewed as income replacement for a family's breadwinner, should he / she pass away during his / her working years.

The purpose of term life insurance should be to protect a major life event, or events, like providing income replacement for your family until retirement age, ensuring the cost of your children's education, or paying off the mortgage.

Life insurance is a way of providing income replacement for financial dependents (the beneficiaries) after the insured dies.

For example, if your family survives on a budget of $ 100,000 per year now and you want to provide income replacement for 20 years, not accounting for inflation or investment returns, your family will need a nest egg of $ 2,000,000.

Term life insurance is best used as income replacement for a wage earner who has financial dependents, such as a spouse or kids.

Anyone that is looking to provide income replacement for their family should consider purchasing term life insurance.

There are a multitude of things that a life insurance death benefit can cover including funeral and burial expenses, outstanding debt life mortgage payments, income replacement for your spouse when you are no longer here, and your children's educational future.

An individual seeking a life insurance solution to provide liquidity for his / her estate and transfer wealth, or provide income replacement for dependents after his / her working years

Term life insurance could be looked at as income replacement for your spouse if you were to die unexpectedly.

Term life is used for income replacement for your loved ones if you die.

Also consider educational costs for your children, as well as income replacement for your spouse and family after your death.

It should be valued as a potential lifesaving product, providing income replacement for your children and spouse.

The income option is beneficial for individuals who are seeking income replacement for beneficiaries, who wish for their beneficiaries to be more responsible financially, if your beneficiary has special needs or if you want to provide a long - term benefit to a charitable organization.

Whether you concern is paying for your children's college education, providing income replacement for your family, paying any final medical expenses or funeral cost, covering key employees, paying off a mortgage, creating wealth for the next generation or any other financial obligation.

This is because the proceeds that are received from life insurance may be used for a long list of financial needs, including the payoff of debt — including a home mortgage — and as an income replacement for paying ongoing living expenses.

Long - term disability insurance provides income replacement for disability caused by injury or sickness in the long - term.

Short - term disability insurance provides income replacement for accidents or sickness in the near term.

One of the main reasons people buy life insurance, regardless of the type, is for income replacement for one's family.

It can serve many purposes including income replacement for your spouse and as a college fund for your children.

If you are not concerned about income replacement for a spouse, then the policy amount may come without any obligation to your beneficiaries.

If your company only offers [glossary title = «Short - term disability insurance» text = «Insurance that provides income replacement for the first few weeks or months after a disability forces you stop working.»

Long - term disability policies usually kick in after a waiting period of three to six months, then provide income replacement for anywhere from a few years up to several decades.

Income replacement for your family can be provided by life insurance coverage that could help ensure your family and loved ones have enough financial security to carry on in your absence.

This was more than enough for a modest funeral that she had planned, plus it accounted for three years» worth of income replacement for Hank if she died while she was still working.

If each spouse or partner earned $ 50,000 a year, a $ 250,000 life insurance policy would provide for five years of income replacement for the surviving spouse.

In addition, this coverage level could be used as income replacement for about 10 years if your income is close to the national average.

It will provide up to $ 2,200 of monthly income replacement for a year.

While many people believe that advanced age is a reason to drop life insurance, needs such as final expenses, estate tax payment, and income replacement for a surviving spouse are all situations that make this important protection even more essential during this time in a person's life.

Young, healthy individuals with families typically need enough life insurance coverage to pay off a home mortgage and other outstanding debt and provide some income replacement for their spouse and children.

Whether you concern is paying for your children's college education, providing income replacement for your -LSB-...]

BACKGROUND: One of the major objectives and coverages of the Insurance Act (Act), the Automobile Accident Insurance Benefits Regulations (AAIB) and automobile insurance policy forms is income replacement for those that are disabled as the result of injuries sustained in automobile accidents.

Another option is income replacement for veterans who are facing barriers returning to work after military service at 90 % of their pre-release salary.

Truth: Disability insurance provides a stream of income replacement for a limited time (it could be months or years depending on the policy).

Social Security might offer some disability protection, but the $ 1,171 average monthly benefit would not provide substantial income replacement for most workers.

In addition, this coverage level could be used as income replacement for about 10 years if your income is close to the national average.

Income replacement for your family can be provided by life insurance coverage that could help ensure your family and loved ones have enough financial security to carry on in your absence.

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.

Social Security Disability Insurance (SSDI) provides partial income replacement for workers who have a serious illness or injury expected last a year or longer or result in death.

Term life insurance is not available as a standalone policy on children (because the term would likely be over by the time they needed income replacement for their own families), but a permanent policy will last their lifetime so long as the premiums are paid.

Young, healthy individuals with families typically need enough life insurance coverage to pay off a home mortgage and other outstanding debt and provide some income replacement for their spouse and children.

Income replacement for either spouse can be accomplished with the same amount of life insurance coverage.

Income replacement for nonworking spouses is an important and often overlooked insurance need.

To reach the common target of 70 % income replacement for a $ 50,000 final income, the necessary savings rate over 30 years jumps from 9.6 % to 14 % of annual gross salary.