What Is the Best Way for a Widow to Use Life Insurance Proceeds?

There are many options, but the best use of the money is different for each widow and her unique circumstances.

A woman wearing all black sorts through some financial documents.
(Image credit: Getty Images)

The loss of a spouse is one of the most stressful events a person can experience. With it comes a whole host of emotions that can be overwhelming for the bereaved. Hopefully, life insurance is one thing that was put in place to allow those remaining to process their loss without fretting over their finances.

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Stacy Francis, CFP®, CDFA®, CES™
President & CEO, Francis Financial Inc.

Stacy is a nationally recognized financial expert and the President and CEO of Francis Financial Inc., which she founded 15 years ago. She is a Certified Financial Planner® (CFP®) and Certified Divorce Financial Analyst® (CDFA®) who provides advice to women going through transitions, such as divorce, widowhood and sudden wealth. She is also the founder of Savvy Ladies™, a nonprofit that has provided free personal finance education and resources to over 15,000 women.