A whole life insurance policy will provide coverage throughout the course of your lifetime. Consider the amount of coverage that your beneficiaries will need. The guidelines below will help you.

Final Expenses

The proceeds from your whole life insurance policy can be used to satisfy your final expenses. Your final expenses may include the cost of your burial plot, memorial service, urn, and accessories.

If you have already planned how you would like your memorial to be held, it is a good idea to research the cost of each service that is of interest to you. The beneficiaries who are listed in your policy can use the allotted proceeds to satisfy your final expenses.

Family Plans

Next, you should determine your family members’ future plans. For example, you may have a family member who will attend college or plans to get married within the next few years.

Either situation may require a moderate investment. If you are concerned about a specific family member being able to afford an expense that they will ultimately face, you may want to designate a portion of your whole life insurance payout towards this expense.

If your family member is listed as a beneficiary of your whole life insurance policy, they will receive a payout in the event that you die. Knowing that your loved ones will be able to afford the expenses that they are faced with can bring you assurance while you are still living.

Whole Life Insurance Support

If you are ready to obtain a whole life insurance policy, receive the support you need. Contact an agent who serves Raleigh, NC. One of our agents at Craig Insurance Group will prepare your whole life insurance policy for you.