Wednesday, January 13, 2010

What happens if a parent dies with no life insurance?

Is there any kind of state benefits that might help with costs, or is it all up to next of kin to foot all the costs?What happens if a parent dies with no life insurance?
You can and should apply for Survivor Benefits for the children. Please visit this website which will give you more information and a phone number for you to contact:


http://www.ssa.gov/pubs/10084.html





The amount of benefits will depend on the average lifetime earnings of the deceased parent. I know that my two younger brothers received over $1,000 per month and that was many years ago so the amount can vary substantially.





If the income is not enough to support the family then you should consider applying for your state's welfare or aid for families with dependent children and also apply for food stamps and medicaid or the schip program.





I am very sorry for your loss. I wish you and your family good luck!What happens if a parent dies with no life insurance?
Social security will pay you 250 dollars. That will not even transport the body in some cases, the exact reason you need to meet with a financial services professional as soon as possible. Most people tend to take on these issues by themselves, but there is a reason that I have a job, because they usually can not. I hope that this question has not been asked because of a problem, but instead, a way to prevent a future disaster. There are other things beyond burial expenses that you need to watch out for such as estate taxes, credit obligations etc that most people think disappear when they pass on but instead are passed on themselves to other family members. Let me know if you need assistance in this area for I help people plan for this type of experience as well as other financial matters.
I don't know about the US, but in Canada, the government gives a persons family $2,500 from the Canada Pension Plan and that's it. It's pretty much up to the next of kin to cover everything Other than that you are on your own and considering an average funeral is $10-12,000 before you even get into estate taxes, income taxes, admin fees, debts and all the other stuff, the money they give is a drop in the bucket.





Don't rely on the government for anything. Take matters into your own hands and make sure that you are properly insured and those that could have a financial impact on your are insured.
There are some small Social Security death benefits that go to next of kin and after that, it is up to the estate and the next of kin.
There is a very small social security death benefit. If I remember correctly it is only a few hundred dollars so not much to work with.
In my state there are lots of programs. There are also social security benefits.





Contact your local human services agency and ask.
You may try to google it,here http://www.InsuranceFreeTip.info/insurance-for-free.htm has some direct resource that might be helpful.
You may be able to get some help from Social Security, but other than that there are no government programs that I know of.

No comments:

Post a Comment