LifeInsurance

3 Major Inventive Uses for Life Insurance

Major Inventive

There are three major  real-life ways to use life insurance policy funds to continue thriving, in case the Insurer  unexpectedly  dies.

1) Pay your spouse to go back to school: If you were to disappear tomorrow, how would your  spouse and children  cope after the final costs and debts are paid? Would your spouse need to get another extra  job or a more lucrative  job? People  often talk about taking their children’s college costs into consideration when it comes to insurance policy. But what about your surviving spouse? Will he or she go back to school in order  to help them earn  a higher-paying job? If so, you may want to keep this in mind when it comes to selecting your policy.

2) Starting An Online Business: Your surviving spouse may want to bring  an extra   income to supplement the salary. Today it’s easier than ever to start an online business (especially women), and if a spouse is technically savvy, you can  start to build a website in WordPress for  less than $ 100 , in addition with the yearly cost of a domain and annual basic hosting, one  could easily start a business online for less than $300.

3) Create and sell physical products: If your spouse wants to transfer computer screen and be  more  focus, they still have the opportunity to create a new physical product or a  company. With the rise of crowdsourcing, your spouse can generates funds  through crowdsourcing  which will be intended to finance the business. What’s more, is when  a company is not limited to your spouse, your  kids as well, can use this money to fund their  dreams, or your spouse and children can  make it a family business.

A real-life example of a woman who used her legacy to invest in a dream is Christina Conrad , who created a sports bra that has the added functionality of a purse. Instead of  her using the money her  deceased father left her to attend graduate school, she funded her business with a Kick starter campaign and used the money she received from her father for living expenses.