Question for the Money Doctors

Question submitted on Aug 13, 2012.

Question

my son is 18 mths old....my fiance (his Father) passed away recently....what do I do?

Answer

You will want to check with your fiancée's employer to see if there is any group term life insurance.

Confirm with friends and family that a policy does not exist.

Also, sometimes a long term disability policy pays a small benefit at death.

You also will want to contact the social security administration.  There are social security benefits payable to both a parent and a child when an eligible parent has died.

Everyone's facts and circumstances are different. Refer to the following website to find information specific to your circumstances.

http://www.ssa.gov/survivorplan/ifyou5.htm

For additional information visit http://www.360financialliteracy.org/