If someone’s going through the day without life insurance, they may be just like the person in the scary movie who goes into the dark basement alone. Leave those financial nightmares to Hollywood producers. You can help protect your loved ones from the financial headaches they can encounter should something happen to you. 

Protect the people you love against all things spooky

Life insurance can shield your loved ones from a sudden loss of income if you die, by offering a payout to the person, or people, that you designated in your policy. These people are called beneficiaries. 

This year changed the way we do everything, including how we celebrate Halloween, it can be especially important to reflect on how your beneficiaries rely on you. Think of the many expenses your loved ones may need to face alone if you’re not around: 

• Funeral expenses. Funerals can be expensive. In fact, the average burial in North America costs between $7,000 and $10,000. If your loved ones aren’t prepared to cover the costs of your funeral, life insurance can help them afford to give you a proper ceremony.
• Day-to-day costs. Think of the people who depend on you and your income. Or the people who count on your spouse’s income. Even after you’re gone, they’ll still need to pay for groceries, clothes, medical care, and more. Life insurance can allow your beneficiaries to maintain their way of life. 
• Unexpected emergencies. Think of how you react when someone you love gets hurt or experiences another emergency. If you’re not around to take care of them, you want to help ensure that they’re still getting the help they need. A life insurance policy can do just that. A payout after you’re gone can help beneficiaries when they’re in a jam. 

If you purchase term life insurance, you can pick a certain time period of coverage, such as 10 or 20 years, and our beneficiaries can receive a payout from your policy if you pass away during that time. 

No tricks, just treats with Bestow life insurance

This Halloween, get ahead of the scary things that go bump in the night. With Stash’s partner Bestow,* you can apply for a term life insurance policy quickly online. 

With Bestow, you can get a quote for life insurance right from your home. Before you start handing out candy this Halloween, grab your own treat: a quote from Bestow.*

The post Don’t Let Life Creep Up on You. Help Protect Your Loved Ones with Life Insurance. appeared first on Stash Learn.

School is likely to look a little different this year as a result of the ongoing Covid-19 pandemic. Whether your kids are headed back to the classroom in masks or whether they’re staying home and learning remotely, you probably want to do everything you can to make sure they’re safe and taken care of in the event that something happens to you or your spouse. Life insurance can be part of ensuring your dependents’ wellbeing. 

If you don’t have kids, now could still be a good time to reflect on your life insurance needs. Maybe you have student loans or other debt. Life insurance can be an important way to shield your family from the potential burden of your debt in the event that you pass away.

Meanwhile, the back-to-school season can be overwhelming. We’ll help you understand life insurance and how you can quickly get a quote from your home before you get swept away by your never-ending to-do list.

The ins and outs of life insurance

Life insurance is a type of insurance that can give a payout to a person of your choice if you pass away. This can provide your beneficiaries and through them your children and dependants with resources they may need every day, or to pay for future expenses. Good to know: A beneficiary is the person(s), trust, charity or estate you name on your life insurance policy. The beneficiary will receive the payout of your policy in the event of your passing. But minors cannot legally be beneficiaries of your policy, so it’s important to carefully decide how to name your beneficiaries if you have children who are minors.

There are two major types of life insurance: term and whole life insurance. Term life insurance is a life insurance policy that offers a specific time period of protection, or for a set “term”. Most commonly, you can purchase policies that last for 5, 10, 20, or 30 years. If you pass away during the term, your beneficiaries can receive a payout from your insurance policy.

Whole life insurance, on the other hand, can provide a cash payout to your beneficiaries regardless of when you die. Whole life policy monthly premiums are typically more expensive than those of term life policies.

How life insurance can help

Think of how much your kids depend on you or your spouse on a given school day. Here are some of the many ways life insurance can help your family after you’re gone: 

Every day expenses. If your family loses your income or your spouse’s, it could make it difficult to pay for daily needs such as groceries for lunch, new school supplies, and clothes, just to name a few. The payout from a  life insurance policy can help your family maintain their standard of living and cover those day-to-day costs.

Emergencies. Say your kid falls on the playground and breaks their leg or has an allergic reaction in the cafeteria. The payout from a life insurance policy can make sure that your family doesn’t drown in medical debt when they need care. 

Childcare. Your family might need to hire extra help to manage runs to and from school and extracurricular activities if you or your spouse passes away. Or they might need to hire someone to help out with online learning. The payout from a life insurance policy can help your kids and your spouse afford the help they need.

Education and extracurriculars. Education can be expensive, especially higher education. The cost of a college education has increased by more than 25% in the last decade and as of 2019, 43 million Americans owed federal student loan debt, amounting to a total debt of $1.5 trillion. The payout from a life insurance policy can help your family afford your kids’ education. Plus, if your kids play a sport or take music lessons, the payout from a life insurance policy can help them continue to do the things they love.

If you have student debt

Again, life insurance isn’t just for parents. If you have student loans (or other debt) from your undergraduate or graduate education, you might have taken on those loans with your parent or a loved one as a cosigner.

While it’s unpleasant to think about, your cosigners will be liable for paying back that debt if you were to pass away. 

Having life insurance can make sure that your cosigners will be covered (provided that you named your co-signer as your beneficiary) if something happens to you and they suddenly become responsible for your debt. A life insurance policy can cost a small amount of money per month and can protect your cosigner from taking a huge amount of debt.

Term life insurance with Bestow*

You can cross getting term life insurance off your list in minutes without even leaving the house to do so. Stash’s partner Bestow allows you to apply for term life insurance coverage virtually and quickly. 

With Bestow, you can get a quote for term life insurance easily. Bestow has partnered with two of the biggest life insurance companies so that you can apply for a policy from a trustworthy source. Get a quote now so that you can get back to packing pencil cases and helping with math homework.

The post Back-to-School Basics: Consider Getting Life Insurance for Your Family this Fall appeared first on Stash Learn.

Life insurance may be important for everyone, but it can be especially important for people with families who depend on them. No one wants to think about what their spouse or kids would do without them, but it’s something every parent should keep in mind. 

This Parents’ Day, reflect on what your loved ones may need should something happen to you. Life insurance can be one way to secure your family’s future. 

What is life insurance?

Life insurance is a type of insurance that can pay out when you die, providing your dependents with resources they may need¹. It can be especially important for parents who are the primary earners in the family to have life insurance. 

There are two major types of life insurance: term and whole life insurance. Term life insurance is a life insurance policy that offers a specific time period of protection, or for a set “term”. Most commonly, you can purchase policies that last for 5, 10, 20, or 30 years. If you pass away during the term, your beneficiaries can receive a payout from your insurance policy.¹ 

Whole life insurance, on the other hand, can provide a cash payout to your beneficiaries regardless of when you die.¹ Whole life policy monthly premiums are typically more expensive than those of term life policies.

Why parents should consider life insurance

If you’re on the fence about whether or not you need life insurance, think of all the ways in which your kids could need insurance if something happened to you or your spouse. Life insurance isn’t just for covering funeral expenses. 

A loss of income(s). Think about how your family would manage should they lose you or your spouse. Having insurance can make it possible for your family to maintain their standard of living—from getting groceries to paying off a mortgage—should they lose you and your income. 

Healthcare and emergency expenses. Consider how your family will cover unexpected expenses and emergencies without you. Emergencies happen. And while you might have money set aside for those instances in a rainy day fund, insurance can add extra financial protection for your family. A payout from life insurance can be a safety net for your family after you’re gone, for instance if your child breaks a bone or your home needs a sudden repair.

Childcare and education. You want the best for your children and their future. The average cost of childcare in the U.S. is $11,666 per year. Plus, the cost of a college education has increased by more than 25% in the last decade and as of 2019, 43 million Americans owed federal student loan debt, amounting to a total debt of $1.5 trillion.

If you get life insurance, you can help make sure that your child will get the education they deserve affordably. 

How parents can get life insurance with Bestow²

If you don’t have life insurance yet, you might be wondering how quickly you can fix that. With Bestow, you can sign up for term life insurance easily. Bestow has partnered with two of the biggest life insurance companies so that you can get a policy from a trustworthy source. 

This Parents’ Day, you can get a quote from Bestow, and help stabilize your family’s financial future.

The post It’s Parent’s Day! Consider Getting Life Insurance If You’re a Parent. appeared first on Stash Learn.