One of the greatest gifts that a loved one can give to others is the final gift of life insurance. In Oklahoma, more residents are looking to make sure beneficiaries have one of these policies available for their loved ones at the time of their passing.
This policy refers to money paid to beneficiaries after you pass away, and a death certificate is filed with the insurance agency. Depending on how that policy is written, these funds can be divided among one or more beneficiaries and can be used for several reasons. This policy is implemented, and monthly payments are required to keep it active at the time of your death.
At the time of your passing, there will be unexpected expenses related to your funeral services. These expenses include tending to remains, memorial services, transportation, and all burial needs. These services can add up to thousands of dollars that your family members may not have available to pay at that time.
Your loved ones may not have enough financial stability to cover your outstanding debts and be forced to return this property to the lender. With an insurance policy, you can secure enough funds now to cover what is currently outstanding so that it can be covered, and beneficiaries can have the property meant for them.
You may just be interested in leaving behind a financial gift for your loved ones, and you can certainly do that with a life insurance policy. This can be a comforting surprise to discover out after experience your passing and dealing with the fallout that comes with death.
If you have additional questions about life insurance or how it works in Oklahoma, contact our agents at Andrew Davis Insurance Agency LLC today to see how much life insurance you need and get your personal policy quote.
