Life Insurance

Life Insurance | South CarolinaWho Needs Life Insurance & Why?
No one likes to think about life insurance, or the possibility of dying, but there comes a point when it is absolutely necessary. That point, for most people, will be when they are over the age of eighteen. Children under the age of eighteen do not typically need life insurance unless they are facing a life threatening illness or injury. Once you reach the age of eighteen, it is time that you start thinking about those around you, and what they may be forced to deal with should you suddenly depart.

Cost of Funeral

What many people forget is the number of events that need to take place once a person becomes deceased. First of all, the body will need to be removed from the premises and transported to the funeral home. This will cost about $250. Once that is complete, embalming and other preparation will need to take place which costs almost one thousand dollars.
Once these basic preparations are complete, the funeral services can commence, and use of the facilities will cost around $400 per session. This includes the use of the staff and the facilities, but not the use of the hearse or service car.
The price of a casket can vary, though a safe number to settle on would be about $1000. While you are grieving, you might feel the need to spend your life savings on a casket, but there is no need to do this: there are plenty of high quality caskets at a lower price.
Opening and closing the grave will cost about $2000, and with the combined costs, the funeral will cost almost $10,000. This is far more than the average person can afford on short notice, though the cost of the funeral service can be offset if the individuals involved are willing to forego the typical funeral service.

Income Replacement
If the deceased has a spouse, child or significant other, they most likely will be dependent on their income, which of course is lost without life insurance. Think about how much it costs to pay the mortgage or rent of the home. Now factor in childcare, car payments, car insurance, credit card payments, student loans; the list and amount of money due on these items alone can be staggering. Life insurance should pay enough to cover these important expenses for 6-12 months, if not longer.  The most basic function of life insurance is to replace your income up to the age you would have retired. The requirements and specifications vary from company to company, so start doing your research now. Life insurance can be expensive on a month to month basis, but it is the best security blanket that your family could ever have.

At Hendrix Insurance we offer Commercial Auto policies at competitive prices to our clients in Lyman, Greenville and Spartanburg areas.

To discuss your needs for commercial auto insurance in contact Hendrix Insurance in Lyman, SC or request a commercial auto insurance quote.


 

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Hendrix Insurance | 205 Spartanburg Highway - Lyman, SC 29365