Protect Your Family From Debt With Life Insurance

//Protect Your Family From Debt With Life Insurance

Protect Your Family From Debt With Life Insurance

A tragic news story has been circling the internet lately about a young woman that died unexpectedly at age 27, leaving behind three children and $200,000 in private student loan debt.  The news story focuses on the young lady’s parents and their struggle to raise her three children and pay off the $200,000 loan that they co-signed for.  Their story truly is difficult to hear, what makes it even more difficult is how easily the financial struggle could have been avoided with just a little bit of planning.

Term life insurance is a very inexpensive way to protect yourself from a risk like this.  For less than $20/mo* this young woman could have purchased a $500,000 death benefit policy good for 20 years.  The policy would have paid off her debt, started a college fund for her three kids, and left the parents with an additional $150,000 to $200,000 to help raise her kids.  All for the cost of a few cups of Starbucks coffee each month.

If you have children or anyone else dependent on your income, you need life insurance.  If you have co-signed a loan that would cause you a hardship if you had to pay it off, you need life insurance.  If you carry any debt that would hinder your heirs, you need life insurance.  It’s so cheap there really is no excuse to not have it.  Imagine how different this story would have been and how different her kids and her parent’s life would have been if life insurance were in force.

Use this calculator to determine your need, then call us to get a free no obligation quote on term life insurance.

*Assumes non-tobacco preferred plus rates.

By |2015-03-25T04:00:13+00:00July 30th, 2014|Life Insurance|0 Comments

About the Author:

Brad Phillips is a Managing Partner with Phillips Stafford Insurance Group. Brad has been in the insurance and financial services industry since 2009. He spent time as a captive insurance agent before co-founding Phillips Stafford Insurance Group. Brad was named a "Forty Under 40" by the Des Moines Business Record as well as a 2006 regional winner and top-10 finalist for the Global Student Entrepreneur Awards, presented by Mercedes-Benz Financial and the Entrepreneurs Organization (EO). In 2007 Brad became a published author when he contributed a chapter to Student Entrepreneurs: Graduating With a Profit, a book exploring business ethics with an emphasis on entrepreneurial activities.

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Phillips Stafford Insurance Group is an independent insurance agency with office locations around Iowa. We specialize in working with business owners to protect, grow, and transition their business. We are also well equipped to handle all personal insurance needs.

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2840 104th St, Urbandale, IA 50322

Phone: (515) 978-9010

Fax: 888-670-3251

Licensed in IA, AZ, KS, MN, MO, NE, OH, SD