{"id":8626,"date":"2020-04-28T21:57:08","date_gmt":"2020-04-29T01:57:08","guid":{"rendered":"https:\/\/lifehappens.org\/?page_id=8626"},"modified":"2024-07-24T16:03:13","modified_gmt":"2024-07-24T20:03:13","slug":"what-does-life-insurance-cover","status":"publish","type":"page","link":"https:\/\/lifehappens.org\/life-insurance-101\/what-does-life-insurance-cover\/","title":{"rendered":"What does life insurance cover?"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; make_equal=&#8221;on&#8221; specialty=&#8221;on&#8221; padding_top_2=&#8221;20px&#8221; padding_right_1=&#8221;50px&#8221; padding_top_bottom_link_1=&#8221;false&#8221; padding_top_bottom_link_2=&#8221;false&#8221; padding_left_right_link_1=&#8221;false&#8221; padding_left_right_link_2=&#8221;false&#8221; custom_css_main_1=&#8221;border-right:1px solid #eeeeee;&#8221; _builder_version=&#8221;4.21.0&#8243; module_alignment=&#8221;center&#8221; inner_width=&#8221;100%&#8221; inner_max_width=&#8221;1250px&#8221; inner_module_alignment=&#8221;center&#8221; custom_padding=&#8221;60px|35px||35px|false|true&#8221; top_divider_color=&#8221;#3390ff&#8221; top_divider_flip=&#8221;vertical|horizontal&#8221; top_divider_arrangement=&#8221;above_content&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;3_4&#8243; specialty_columns=&#8221;3&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_row_inner _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;20px||1em||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column_inner saved_specialty_column_type=&#8221;3_4&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_button button_url=&#8221;\/life-insurance-101&#8243; button_text=&#8221;Life Insurance 101&#8243; module_class=&#8221;button_icon_right&#8221; _builder_version=&#8221;4.16&#8243; custom_button=&#8221;on&#8221; button_border_width=&#8221;0px&#8221; button_letter_spacing=&#8221;0px&#8221; custom_padding=&#8221;0em|0em|0em|0em|false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][et_pb_text _builder_version=&#8221;4.16&#8243; _dynamic_attributes=&#8221;content&#8221; header_font_size=&#8221;38px&#8221; custom_margin=&#8221;||||false|false&#8221; custom_padding=&#8221;||||false|false&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IjxoMT4iLCJhZnRlciI6IjwvaDE+In19@[\/et_pb_text][et_pb_text _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Life insurance can help your loved ones cover expenses they currently (or will someday) face if your earnings were no longer in the picture.<\/p>\n<p>Some of the most common immediate and everyday expenses people use life insurance for include:<\/p>\n<p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner column_structure=&#8221;1_2,1_2&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column_inner type=&#8221;1_2&#8243; saved_specialty_column_type=&#8221;3_4&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li>Funeral and burial costs<\/li>\n<li>Estate settlement costs<\/li>\n<li>Outstanding bills for healthcare<\/li>\n<li>Health insurance<\/li>\n<li>Mortgage or rent<\/li>\n<li>Household upkeep expenses<\/li>\n<li>Credit card debt<\/li>\n<li>Car loans<\/li>\n<li>Property taxes<\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column_inner][et_pb_column_inner type=&#8221;1_2&#8243; saved_specialty_column_type=&#8221;3_4&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li>Outstanding tax bills<\/li>\n<li>Groceries<\/li>\n<li>Utilities<\/li>\n<li>Childcare expenses<\/li>\n<li>Private school tuition<\/li>\n<li>Costs to continue a family business<\/li>\n<li>Charitable giving to houses of worship or other nonprofits<\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column_inner saved_specialty_column_type=&#8221;3_4&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>In addition to letting your loved ones maintain their standard of living now, life insurance also helps ensure their future. Some of the most common non-immediate expenses life insurance covers include:<\/p>\n<ul>\n<li>Future college costs<\/li>\n<li>A spouse or partner\u2019s retirement<\/li>\n<li>Planned inheritances<\/li>\n<li>Special charitable giving projects like a memorial fund<\/li>\n<\/ul>\n<p>As you can see, there are so many ways that life insurance lets your loved ones remain on firm financial ground if you pass away unexpectedly. Thousands of people have benefitted from the financial lifeline that life insurance offers. Here is just one person\u2019s story of how life insurance helped her weather a difficult time.<\/p>\n<p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column_inner saved_specialty_column_type=&#8221;3_4&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><script src=\"https:\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 0 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\">\n<div class=\"wistia_embed wistia_async_42i2byvg7z dnt=1 videoFoam=true\" style=\"height:100%;position:relative;width:100%\">\n<div class=\"wistia_swatch\" style=\"height:100%;left:0;opacity:0;overflow:hidden;position:absolute;top:0;transition:opacity 200ms;width:100%;\"><img decoding=\"async\" src=\"https:\/\/fast.wistia.com\/embed\/medias\/42i2byvg7z\/swatch\" style=\"filter:blur(5px);height:100%;object-fit:contain;width:100%;\" alt=\"\" aria-hidden=\"true\" onload=\"this.parentNode.style.opacity=1;\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column_inner saved_specialty_column_type=&#8221;3_4&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>It only takes 30 to 60 days to receive a life insurance payout\u2014and unlike most other savings vehicles, life insurance proceeds are almost always tax free. What\u2019s more, getting life insurance is easier and more affordable than most people think. One of the best ways is to work with a financial professional who can walk you through the entire process. If you don\u2019t have one to work with, check out our<a href=\"\/choosing-an-agent\/#locator\">\u00a0locator<\/a>. You can also work directly with an insurance company. Here are\u00a0<a href=\"\/about\/partners\/\">company partners<\/a> that support our non-profit mission and can assist you in getting coverage directly or through one of their financial professionals. The key is to start today.<\/p>\n<p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][et_pb_column type=&#8221;1_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.14.2&#8243; text_font=&#8221;Montserrat|600||on|||||&#8221; text_font_size=&#8221;15px&#8221; custom_margin=&#8221;0px||0px||false|false&#8221; custom_padding=&#8221;58px|||20px|false|false&#8221; global_module=&#8221;2892&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Learn more<\/p>\n<p>[\/et_pb_text][et_pb_sidebar orientation=&#8221;right&#8221; area=&#8221;et_pb_widget_area_1&#8243; show_border=&#8221;off&#8221; _builder_version=&#8221;4.21.0&#8243; body_text_color=&#8221;#002838&#8243; body_font_size=&#8221;14px&#8221; body_line_height=&#8221;1.3em&#8221; custom_margin=&#8221;||||false|false&#8221; custom_padding=&#8221;20px||||false|false&#8221; global_module=&#8221;2893&#8243; global_colors_info=&#8221;{}&#8221;][\/et_pb_sidebar][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Life insurance can help your loved ones cover expenses they currently (or will someday) face if your earnings were no longer in the picture. Some of the most common immediate and everyday expenses people use life insurance for include: Funeral and burial costs Estate settlement costs Outstanding bills for healthcare Health insurance Mortgage or rent [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":3116,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-8626","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What does life insurance cover? &#8211; Life Happens<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lifehappens.org\/life-insurance-101\/what-does-life-insurance-cover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What does life insurance cover?\" \/>\n<meta property=\"og:description\" content=\"[et_pb_fullwidth_module_placeholder selected_tabs=&quot;all&quot;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lifehappens.org\/life-insurance-101\/what-does-life-insurance-cover\/\" \/>\n<meta property=\"og:site_name\" content=\"Life Happens\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/lifehappens.org\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-24T20:03:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lifehappens.org\/wp-content\/uploads\/2021\/06\/og_image_LifeHappens_logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@lifehappens\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/lifehappens.org\/life-insurance-101\/what-does-life-insurance-cover\/\",\"url\":\"https:\/\/lifehappens.org\/life-insurance-101\/what-does-life-insurance-cover\/\",\"name\":\"What does life insurance cover? 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