How much life insurance do you need? If you added up all your debts,
mortgage, car payment and other loans and obligations, would this be the
right
amount? Maybe if you multiplied your yearly income by 3 and added to the previous debt figure. Would this be enough coverage? How about college expenses for your children?
This is really a personal question unique to each and every individual.
We feel that insuring a life is a personal
matter which
depends upon many factors such as size of family, income, total debt,
overall savings and emotional feelings. Life insurance prices are rated
on
factors like age, health, gender, immediate family
health history and smoking history.
The decision on how much life insurance to purchase may come down to a financial and emotional decision. Some say that you purchase as much coverage as you can afford. How much are you willing to pay or how comfortable emotionally are you willing to pay? We can discuss these and other concerns you may have about purchasing life insurance. Just supply us with some information about yourself and we will get back to you with rates and alternatives.
Use the quick spreadsheet below to give you a start on how much insurance you can afford.