I need life insurance?
This seems to be the million dollar
question. Even more so, if I need life insurance, how much is
enough or conversely, do I have too much insurance? The need
for insurance is totally dependant upon your own situation.
Don't be fooled into determining the amount of insurance you should
have to what your best friend or neighbour has. Remember,
every situation is unique and the need will be unique. Your
need will be determined by what you wish to see happen in the event
of your death.
In order to determine how much insurance you
should have, a number of factors need to be considered. For a
person with family needs, these may include such things as:
- Do you have dependants?
- If so, how long will they be dependant upon
- Do you have children?
- If so, how old are they?
- Do you want to insure your children have a post
- Will your household income be greatly reduced
upon your death?
- If so, how much income do you need to replace
so your family maintains their standard of living?
- How long will you need to replace your
- What taxes may be incurred upon your death?
- Do you need to cover debt obligations such as
loans or a mortgage?
obtaining a quote, be sure to review your insurance needs by using
the Insurance Needs Calculator provided on this site. The
proper amount of coverage is just as important as the type of
coverage you obtain.
If your need is more sophisticated, a complete analysis with
a qualified and experienced insurance professional, will help you to
determine what your need for insurance may be. For a no
obligation analysis of your insurance planning needs, please contact
us to discuss and review your options for your unique situation.