Frazer Insurance Agency, Inc.
841 US Route 5 North
Windsor, VT 05089

Fax: 802-674-6115

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Why Life Insurance Is a Benefit to Dependents 

a group of people in a garden

When you buy life insurance, you want to leave a financial settlement to your loved ones when you pass away. One of those people who care most about might be a dependent, and they need your financial support more than anyone else. 

What would happen to your family if something happened to you? Would you be able to provide for a child who hasn’t grown up? Or for a family member who needs long-term care? With life insurance you can answer those questions. You’ll be able to protect your dependent loved ones even when you are no longer able to be there for them physically. Here’s how coverage can help you. 

Young Dependents 

When you have a child or other young dependent, you must recognize that this person has many long-term needs. You are the person who is responsible for providing housing, food, medical care, basic necessities and everyday financial support. 

 Consider just a few of the problems that your death might pose to these individuals: 

  • Could they maintain the same home and lifestyle?

  • Would they have to leave their current school?

  • Would these individuals be able to go to college without costly loans?

Life insurance will be there to help them under these circumstances. Whether a term- or whole-life plan, you can make certain that someone who relies on you for support will get it even after your death. 

Disabled Dependents 

There are other people who might be classified as your dependents, particularly if they cannot legally, financially or physically take care of themselves. This might be a child (even a grown child) with a handicap, or a senior citizen who requires ongoing care.  

Without your financial support to help them, ask yourself what would happen to these dependents: 

  • Could they afford the medications they need?

  • Would these individuals have to live in facilities to receive care? Could they afford the best?

  • Would they be able to live on their own without the care you provide?

  • Would they be able to work and earn their own income?

If the answer to any of these questions is uncertain, then the benefits provided by life insurance will step in to fix the issue. It will ensure that your dependent loved one continues to live their life securely. 

There are numerous life insurance options available, and with the help of your agent, you will be able to build your policy in a way that will provide the best possible settlement. Additionally, you can establish a trust to receive the death benefit funds, which will ensure that the money is only used for the appropriate costs that your dependent needs. 

All in all, life insurance is a critical piece of protection for those who rely on you. Don’t hesitate to ensure that your dependents will be protected both now and in the future.