Male   Female
  • How life insurance helps family immediately after death
  • July 1, 2015
  • how much cash do I needBy

    If you or another income-earning family member died today, what would your family’s financial situation be like? It is not a pleasant subject to think about, but the knowledge that there are funds to help cover your family’s daily needs and costs provide a small comfort.

    One way to ensure your family’s survivors have immediate cash after a death is through and proper planning, recommends Edward E. Graves, author of “McGill’s Life Insurance.” A policy’s death benefits provide survivors with cash within a few days of a claim’s filing and frequently makes up a large portion of any family’s “emergency funds.”

    Consider all the daily living needs that cash from life insurance proceeds could be used for. While every family’s living situation is different, food, utilities, transportation, other insurance bills and mortgage or rent payments are common essentials. With children, school or college tuition expenses are also a factor.

    The Bureau of Labor Statistics provides numbers and guidelines for people who want to create an emergency fund. The figures do account for inflation and increasing prices.

    During the transition period after a death, some non-essential costs may help your family maintain their familiar standard of living. These include cable bills, newspaper or magazine subscriptions, entertainment costs and air conditioning or heating bills.

    Pages: 1 2

  • Category: Articles Library, Life Insurance, Term Life, Videos

One Response

Leave a Reply



Consumer Insurance Guide SM provides a wide selection of originally-authored articles and expert advice targeted to the self-directed insurance shopper. Our mission is to provide consumers with useful, money-saving information on all things having to do with making sound insurance purchase decisions.

Consumer Insurance Guide SM is owned by Life Quotes, Inc. 8205 South Cass Avenue, Darien, IL. For editorial, content feeds, advertising and lead purchase opportunities, contact Robert Bland at

Originally founded in 1984 as Quotesmith Corporation, Life Quotes, Inc. owns and operates and, two online consumer insurance information services that cater to the needs of self-directed personal and corporate insurance shoppers.

About Us  |   Contact Us  |   Press Releases  |   The Best Privacy Policy  |   Life Insurance  |   Careers
For Agents & Brokers  |   Site Map  |  

Copyright ©1984-2015 Life Quotes, Inc., 8205 South Cass Avenue, Suite 102, Darien, Illinois. Life Quotes, Inc. and certain of its personnel are licensed as insurance agents, brokers or producers in all states. CA agent #0A13858, LA agent #200696, MA agent #333509159. dba Life Quotes Insurance Services in CA under agent #0827712, in LA under agent #205078. dba Life Quotes Insurance Services, Inc. in UT under agent #90093. All rights reserved. Telephone (630) 515-0170. Founded 1984.