Sentences with phrase «mortgage at their funeral»
This will allow them not to have to worry about the mortgage at their funeral and make the mortgage payments in the coming year as the house is sold.
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You might also want life insurance to cover college expenses for your kids if you die, or pay off your mortgage at that point, or to pay for funeral expenses, or to protect the income your business gets from a key employee.
Determine the death benefits needed: Add up your anticipated financial requirements at the time of your passing, such as end of life and funeral expenses, your mortgage and outstanding debts, college tuition for your children, and other benefits you may want.
For example, the average funeral can cost around $ 10,000, plus any medical bills that can occur at the end of someone's life, and also any outstanding debts they may have life mortgages, car payments, credit card bills, or student loans.
Most Americans think a policy four times their income is sufficient, but the truth is your policy should be at least ten times your income to pay for your medical and funeral expenses, college and school fees, car loans, mortgage, and taxes.