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Oct 07

Create A Debt Free Generation With A Life Insurance Policy

Americans have a long and troubled relationship with debt. In 2010 alone, the US Census Bureau reported that UScitizens have over $886 billion in credit card debt with each card holder averaging credit card debt of $5,100. While it might not always be possible to live a debt free life, it is possible to ensure that your debt does not become your familys problem in the event of your death. Find out more about how life insurance can help create a debt free generation.

For most Americans, debt has become a way of life. Consider these statistics from Hoffman, Brinker & Roberts:

Only one household in 50 carry more than $20,000 in credit card debt. However one in 50 households represents more than 2 million American households
US consumers spent an estimated $51 billion on fast food alone on their personal credit and debit cards in 2006
US households received approximately 5.3 billion offers for new credit cards in 2007
At least one in ten consumers has more than 10 credit cards in their wallets. The overall average number of credit cards per consumer is 4

Sound familiar? The statistics are staggering and the message is clear: debt is a fact of life for millions of Americans. From personal loans to credit card debt, student loans and mortgages, Americans are a nation of borrowers. While debt might be unavoidable as you work to build the life you want for your family, do not let it become your legacy.

With a life insurance policy in place you know that your family will be able to pay off any unpaid debt that you might leave behind, allowing them to maintain the standard of living that they are accustomed to. Your lump sum life insurance payout not only covers unpaid debt, it can also be put towards:

The costs of settling your estate
Your funeral expenses
Any unpaid medical bills that might result from your death
Education costs
Living expenses
Health insurance

A life insurance payout means that in the event of your death your family can move into the future free of debt and with the finances they need to build the life that you always wanted for them, from quality education to access to the best healthcare. Change your familys lives forever and get a life insurance quote today.

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