Why Life Insurance is Still Wise Even If You Don’t Have a Family Post Preview


Planning for your death without a family to help can be a very challenging situation. Thankfully, skilled Denver insurance brokers can provide you with the help that you need to buy a policy that meets your needs as a person. Make sure to fully understand why this type of policy is still a good choice and how you can utilize this type of policy even if you don’t have a family to help you.

Why Life Insurance is Still Wise Even If You Don’t Have a Family Post Preview

Life Insurance Improves Your Death Planning

If you pass away at any point, somebody is going to have to take care of your death needs. For instance, someone will have to pay for embalming and processing your body, and preparing it for burial. Then, they’ll have to also pay for your casket and the burial itself, finding a cemetery plot and a tombstone that will provide you with the eternal commemoration that you want and deserve.

Unfortunately, if you don’t have a family who can take care of these needs, you’re going to struggle to get exactly what you want. If you pass away with a will but without the money to execute it, you may end up becoming a ward of the state. They will then do a bare minimum to provide you with the type of burial needs that you want and deserve.

Thankfully, life insurance can help you out by providing you with the money that you need to manage this situation. A standard life insurance policy can provide you with a large amount of cash that can be put forward to handle your burial needs and make sure you get the rest that you want and deserve.

Creating a Trustee for Your Life Insurance

When buying a life insurance policy, you need to choose someone who will receive the money. This person is the trustee and can be anyone you name. When you don’t have a family (like a spouse of children) to execute this will for you, you may end up needing to contact a friend or even a lawyer who is willing to provide this type of service for you at a reasonable price without much of a fuss.

If you do hire a lawyer, these professionals typically get a portion of your life insurance policy, often around 10 percent, as an execution fee. They will then make sure that your money is properly entered into an account that can be easily executed for your needs. This process includes finding the tombstone and gravesite that you want and ensuring that your body is properly processed and buried to your exact needs.

Make sure that you create a will to go with your life insurance and give this will to the lawyer, who can properly notarize it and make it legally binding. In this way, your lawyer has to do what you ask them to do with your money, allowing you to get the rest that you deserve and providing the lawyer with a little compensation for their hard work.

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