Life Insurance Is An Affordable Solution To Eliminate The Concern Of Unforeseen Financial Debt
Emily is twenty-three years old, graduated College in May 2016, and has $38,000 in student loans with her mother as the co-signor on the loans. Recently two of Emily’s friends were killed in a tragic car accident. Emily is very concerned that if she died her Mother would be stuck having to pay back her student loans. Emily has a valid concern. When a person cosigns on a loan, in the event of a death, the cosigner is legally responsible for paying the loan. Life Insurance is an affordable solution to eliminate Emily’s concern of not wanting to burden her mother with financial debt.
After speaking with me Emily was eager to learn more about the different types of Life Insurance available, how they differ and how they are priced to fit in her budget. I want to share with you some of what we discussed. I gave a very detailed description and explanation of the three main Life Insurance types during our conversation. I will explain them here in brief.