Life Insurance: Beyond Final Expenses

Life Insurance: Beyond Final Expenses

A quarter of Americans view life insurance only as a means for covering burial costs or final expenses – such as medical bills, mortgage payments or college fund contributions.

This especially applies to single mothers. Their top reason for owning life insurance is managing end-of-life expenses, according to the 2023 Insurance Barometer Study by LIMRA & Life Happens.

The Top Reason Single Mothers Cite For Owning Life Insurance Is To Cover Final Expenses

But life insurance goes beyond final expenses. It supports a family’s future financial security by offering income replacement protection or enabling the transfer of wealth and assets to the next generation.

How Much Life Insurance Do I Need?

At Boston Mutual Life Insurance, we offer several flexible insurance solutions that provide long-term financial peace of mind.

Our whole life insurance, or permanent life insurance, coverage lasts for the lifetime of the insured. Whole life insurance can build cash value for your family’s future, which may be available for you to withdraw or borrow against in case of an emergency.

Our accident insurance can cover unexpected out-of-pocket healthcare costs, such as co-payments, deductibles, transportation, and lodging, that could ultimately put a long-term strain on a family.