Life & Health Insurance

Life Insurance Questions

Why should I have life insurance?
Below are a few facts about what happens when a family member passes away.

Fact: The early death of a family member could happen to you. None of us really think it will happen to us, but it can. The chances are really far greater than you might think. You are more likely to lose your home due to the death of a family member than due to a fire or a tornado. Read the obituaries for just 1 month and see how often this catastrophe strikes.

Fact: The death of a bread-winner causes extreme financial hardship.

50% of all widows spend some time on welfare.

The widow's standard of living decreases 70%

67% of children living in poverty have single parents

Few single parent children go to college

Fact: Most Americans are grossly under insured. If you were given $50,000 would you quit your job? Probably not. Yet the average adult has less than $50,000 life insurance....and I guarantee if you die you will quit your job. Are you asking your family to accept a standard of living that is far lower than you yourself would accept? Your family is depending on you for a lot. Do you want them to do without all those things if you pass away?

I bought life insurance years ago, why should I think about it now?
Your Life Insurance needs change so you must review your plan often. As your family situation changes your insurance needs change. The age of your children, the amount of debt you have, your standard of living and inflation all play a significant role in your insurance needs. Review your life insurance plan every 3 years to make sure you have what you need.

How much life insurance do I need?
This is the simplest method there is, but it is amazingly accurate. Just take your current gross annual income (before taxes) and multiply it times 10. Of course, there are more complicated methods available and if you would like to review them, just contact us.