Do the Right Thing: Use Your Tax Refund to Buy Life Insurance

Don't Blow the Money on Toys or Vacations, Use the Money to Help Financially Protect Your Family!

With Tax Day fast approaching – it’s April 18, 2011, in case you forgot – about 52 million Americans already have filed their tax returns, and about 45 million of those early filers have collected refunds, according to the IRS.

The average 2011 tax refund so far has been $3,129, while direct deposit refunds are running slightly higher, at an average of $3,257, the IRS said. That’s more than in recent years, including 2010, when the average refund was closer to $3,000 and 2009 when it was $2,683.¹

So, maybe you’ve already filed your 2010 tax return and received a refund check. Or maybe you expect to get a refund once you file your return. The question is: What are you going to do with the money?

Sure, there’s that family vacation you’ve been meaning to take or that shiny motorcycle you’ve had your eye on. One recent poll sponsored by credit card company Capital One and reported on in the Washington Business Journal found 37 percent of respondents planned to spend their refunds. Another 31 percent planned to save it and 20 percent of respondents said they would use the cash to pay off debt.²

Help Protect Your Family With Affordable Term Life Insurance

Rather than blowing your tax refund on something frivolous, why not use it to help provide financial security for your family and loved ones after your death? Purchasing term life insurance or another life insurance product is a sound financial decision that will provide peace of mind and other benefits for years to come. Call or contact Matrix Direct today for a free, easy, no-obligation term life insurance quote.

If you died, who would financially support your spouse, children, or other loved ones? Who would pay for your children to go to college? Who would cover the cost of your daughter’s wedding? These are the questions you should ask yourself when the tax refund check comes in the mail and the answer to making sure that these and other costs are covered after your death may be to purchase a life insurance policy.

Term life insurance is designed to help provide financial support for your spouse, children, or other loved ones whom you designate in the event of your death for a specified period of time, or “term.” Typically, the term covered by the insurance ranges from 10 to 30 years. Term life insurance is generally less expensive than whole or permanent life insurance, which provides benefits for your entire life, regardless of when you die.

Whether you choose a term life insurance policy, a universal life policy, or accidental death coverage, doing so just makes good sense. It may not be as exciting as blowing the money on a trip to Las Vegas or some other frivolous purchase, but securing life insurance is the responsible decision for you and your loved ones.

¹ money.cnn.com

² www.taxlawhome.com

• Additional Resources