Tag: Life Insurance

College 101

How Much Can You Get for Selling a Life Insurance Policy?

Scholarship Media

I’m a senior in college and am taking a personal finance course as part of my school’s prerequisites to graduate. My professor recently stressed the importance of taking out a life insurance policy when she spoke about steps to take once each of us get our first “real job” post graduation. When I mentioned this to my grandfather, he said that he sold his life insurance policy, which isn’t something I knew you could do. How much can you get for selling your life insurance policy, and why would you want to?

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Protecting Your Property

Scholarship Media

I’ve been the proverbial broke college student for years now. To be honest, I think it suits me! I’ve had a ton of fun, and I never had too much nice stuff to worry about. But now, as I head out into the real world, I’m getting a little anxious about the idea of having my own money and my own property. I’ll have savings, soon, and will be on my own when big expenses hit. I’ll buy big, expensive things eventually — like a house, for instance. And I’m in a serious relationship, so I’ve been thinking about engagement rings and freaking out about the idea of a tiny, easy-to-lose object that’s worth so much money. How do adults get through life like this? I feel like I’m not cut out to be anything other than a broke kid.

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Making Preparations

Scholarship Media

We had a death in the family last year that came as a shock. My uncle was pretty young when he passed away, and nobody realized that he was sick. And, unfortunately, things were made more stressful and upsetting because my uncle hadn’t really made any preparations for his passing. That got me thinking about my own life and what would happen if I were to pass away suddenly. I’m still a student, obviously, but pretty soon I’ll have a job and maybe a significant other. And I already have loans and other things that could make things legally complicated if I die. I haven’t told anyone whether I want to get cremated or buried, and I don’t really know who to tell. Experts, what kind of preparations should I make in order to spare my family unnecessary stress if I die?