Reasons For Life Insurance

First, replacement income could refer to funeral costs and estate taxes. When you pass away, you may leave behind taxes due on your estate or other end-of-life costs, such as funeral expenses. In 2021, for example, the national median cost of a funeral with viewing and burial was $7,640, according to the National Funeral Directors Association (and that doesn’t even include cemetery, monument, marker, flower and obituary costs). A life insurance policy can be used to cover these expenses.

Second, replacement income could refer to college tuition or college loans. Perhaps you have children who have not yet attended college; perhaps your children are older, either in college or recently graduated, in which case they may have tuition due or loans outstanding. In these cases, your life insurance proceeds could be used to finance your children’s college education or pay off their related debts.

Replacement income could also be used to pay for accumulated medical expenses. Unfortunately, the population is aging: in 2019, the latest year for which data is available, 16.5% of the American population was 65 years old or older, and that figure is expected to reach 22% by 2050, according to Statista. And as people get older, they tend to get sick more often. Prolonged illnesses can be expected. Earmarking your life insurance policy to cover such costs is a prudent step.

If you decide you need life insurance (or more life insurance), purchasing it costs more as your age increases. Before doing so, then, you should talk to us. Call or email us for more information.

As an outlet to release her emotional tension and fight back against the stress and depression the move had brought on, Brencher began writing love letters and leaving them around the city for strangers to find. She’d leave them in grocery stores, on the subway and in other public places for anyone to pick up, spreading little bits of joy to those individuals lucky enough to happen across them. Their impact was genuine and meaningful to many of the people who found them: one recipient described riding on the subway, having just discovered her mother had cancer, looking to the side, and finding a letter full of the positivity she needed to carry on.

Four hundred letters and a plethora of grateful recipients later, it was clear this was becoming bigger than Brencher had ever imagined, and thus, The World Needs More Love Letters was born. Taking requests for handwritten letters to be sent around the world, Brencher’s organization has sent thousands of them to 50 different countries, bringing words of encouragement to those deserving of the love. Recipients range from family members who deserve appreciation, friends in need of a lift, children in hospitals braving their treatment and more. Through their recent Campus Cursive program, the organization has also sent love letters to more than a hundred college campuses. Truly inspiring as we approach Valentine’s Day.