How Much Life Insurance Do You Need ?
Aside from finding the best insurance policy to fit your needs, it’s important that you purchase enough life insurance to protect your family. It’s a delicate balance between purchasing enough life insurance and not paying for more coverage than you need. There are several factors that you need to account for when calculating your insurance needs.
The first things that you need to look at is your debt and any final expenses that your family would be left with after you passed away.
If you were to pass away today, your loved ones would be responsible for all of your debts and much more. This could leave your family burdened with thousands and thousands of dollars in unpaid expenses. Don’t forget to include your burial and funeral expenses in the calculations. Make sure that your insurance plan is large enough to cover all of those bills.
The next thing to account for in your annual salary and how many of your family members rely on that income. If you were to pass away, if you’re one of the main income earners in the household, your family would struggle financially if you were to pass away.
One common thing most people don’t think about adding into their life insurance is any donations they want to make. If you want to give back to your community after you pass, a life insurance policy is an excellent way of doing that.
In fact, you can have a portion of your life insurance policy automatically donated to the charity of your choice in your will. A lawyer can set everything up for you.
Having too little life insurance can be as detrimental as not having any insurance at all. It could leave your family with a bunch of leftover bills and too little money, which can make an already difficult situation much worse.
On top of the emotional strain, your family would be left with financial strain as well.
Let Us Help You!
We’re here to make your purchase as quick and painless and possible. Trust me, it makes it easier on us, too!
If you have any questions, we’d love to help. If you have medical concerns, you may want to call us before filling out your online life insurance application, because we want to make sure you get the most accurate quote. We know that buying life insurance can be a difficult and confusing process.
There are dozens of different types of policies that you have to choose from, and thousands of companies that all claim they have the best policy for you. We can make the process simple and easy.
You never know what’s going to happen tomorrow. Don’t wait any longer to give your family the insurance protection that they need. Nobody wants to think about his or her own death, but it’s vital that you plan for the inevitable.
While buying life insurance online instantly is a great way to get coverage quickly, it isn’t always the best option. In most cases, you’re going to pay much more for this instant life insurance policy. If you’re looking for the most affordable life insurance option, going with a term plan that requires a medical exam is going to be the best choice.
Unless you have a specific reason to get an instant life insurance policy, we always suggest that you work with one of our agents to go through a more traditional route and save money. In some cases, you could save thousands of dollars on your life insurance policy.
Sure, you won’t have the luxury of getting coverage within the hour, but it’s worth waiting to save money on your protection. Regardless of which type that you choose, it’s vital that your family has the insurance they need and deserve. Let our agents discuss your specific situation and help you decide which option is best for you and your loved ones.