If you are old like me and have people who depend on you, it may be time to start thinking about life insurance. Cheap Ass Gamer has partnered with Golden Cohen to help provide quick and easy life insurance for CAGs.
Here are a few basics to help get you started:
What is life insurance?
Life insurance is a contract binding a life insurance company to compensate a beneficiary for the death of a person insured. If the insured dies, the company will provide a cash payment to the beneficiary. Life insurance is used to protect the economic value of a human life with regards to those who may be financially dependent upon it.
Uses of life insurance:
Life insurance has many uses for both individuals and businesses. Some common uses for individuals include:
Funeral - Life insurance proceeds can ensure that there is enough money for proper funeral and burial expenses.
Debt - Personal bills, credit card debt, student loans, and personal notes can be covered by life insurance in the event of an individual's death.
Mortgage Protection - The proceeds of a life insurance policy can pay off the balance of a mortgage or provide an income stream to pay monthly mortgage or rent payments.
Income Replacement - In the event of an individual's death, life insurance proceeds can provide a supplemental income stream to ensure that the surviving family members are able to maintain the same standard of living.
Education - Life insurance proceeds can ensure that the education costs of the insured's children are covered.
Taxes - Federal estate and state inheritance taxes can be pre-funded using life insurance to preserve the value of an estate.
Donations/Gifts - An individual can use a life insurance policy to fund a donation to a charity or leave a gift to a family member.
Now that you are completely depressed by the thought of your own demise, use this link to get a free quote. If you find a better deal or have questions or comments, let us know!