Life Insurance in Michigan
Many Michigan residents understand the importance of life insurance and the benefits that it can provide for their loved ones after they have passed. One of the best gifts that you can leave your family is a life insurance policy that eliminates their financial burden. For residents living in Michigan, our agents at North Coast Insurance Services in Lexington, MI would like to discuss the various options available when selecting a life insurance policy.
Final Costs
The most popular use for these policies is to ensure the family has enough funds to cover the closing costs of your funeral services. Most funeral directors require payment upfront or shortly after the proceedings, should there be proof of a life insurance policy. With this policy, you can obtain the services that you want with your burial or cremation, minimizing the financial burden on your family members during their time of mourning.
Probate and Estate Costs
The estate you leave behind will have to be circulated through the county's local probate court, and additional fees may be required. Use some of the funds in your life insurance policy to cover these costs so that your family members are not suffering financially.
Outstanding Debt
Do you currently carry a mortgage or other outstanding debt in your name? If so, you may want to include the current amount of debt in your life insurance policy so that your loved ones are not obligated to carry that debt after you pass. This allows them to keep parts of your assets that they otherwise would have used to pay the debt.
Call Us Today
If you are a resident of Troy, Lexington, or anywhere Michigan and are looking to obtain a life insurance policy, our agents at North Coast Insurance Services in Lexington, MI are ready to assist. Give us a call today and let us help you determine how much life insurance you need to protect your loved ones when you pass.
