What Happens if You Die Without Life Insurance?

If you die without life insurance, your loved ones will not receive an insurance payout. Which may leave them to cover funeral and burial costs, plus any unpaid debt all on their own.

When you die, your estate, everything you own, is distributed among your surviving family members. If you have a will, you can designate who gets what. If you don’t have a will, your estate will go through probate, where a judge determines how your assets are distributed. If you have any outstanding taxes or debts, your assets will be used to pay these and anything left over will be given to your family.

Should you die without life insurance, your family will have to pay out of pocket expenses for not only funeral and burial costs, but also lost wages and benefits. With the loss of income, how will your family pay the mortgage or put food on the table? If you carry the insurance through work or the like, what will happen if that is not longer available to your family? Who will pay for insurance for them then?

If you are single with no dependents relying on you for financial support, you probably don’t need life insurance. But if you are married and/or have dependents relying on you for support, purchasing life insurance is a smart idea. Just remember life insurance payouts are protected from creditors. You can rest assured that the insurance money will go to your beneficiaries, not to a creditor.

Just remember that life insurance can provide peace of mind to your loved ones after you are gone.

If you need help finding the right life insurance for you, call Jim Rooney at Advanced Insurance Concepts. He works with a variety of insurance companies in Missouri and Kansas. He is licensed to sell Health, Life and Accident Insurance, so call Jim Rooney for all your insurance needs.