How Much Life Insurance Do I Need?
For an individual, this is a common question and not a one-size-fits-all answer.
There are many issues to consider:
Children and their ages (and anticipated expenses -
college, wedding, car, house, cash fund for their early adult life)
Spouse -- working vs non-working and new expenses if the spouse has to go back to the workforce
Health Insurance -- Is it tied to the insured's work and what would it cost to get the same
protection?
Where are you on your career path and do you have any policies currently in place? Where do you see yourself
in the future?
Burial Expense -- Are there cash reserves to pay for burial expenses and/or related expenses? A Burial
typically runs between $8,000 and $11,000.
Budget, Age, Inurability -- How much can you pay for insurance coverage? How old are you and do you have
any health issues that might make you uninsurable?
Life Insurance at Work -- Are there any inurance policies currently in force via the workplace? Are
these policies term/permanent and/or portable?
Do you own a business or have assets in other states?
Do you have the cash flow and income at your business to leverage an insurance policy as a protection tool
and retirement vehicle?
Do you anticipate any Estate taxes on your assets and how much do you anticipate your beneficiaries paying to
the government?
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These aren't the only issues of course but should help get the blood flowing.
Please visit our Life Insurance Quotes page to get an idea of the different premiums,
coverages, and options available for your specific needs or contact us for a personal appointment.
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