Do You Need Life Insurance?

Life insurance is protection against financial loss resulting from death. It provides immediate financial security to your loved ones so that they won't have financial burdens after the event of your death. But how much life insurance is right for you? For starters, a quick and simple way to determine this is by taking into account these three main types of expenses:

• Immediate Expenses: This category includes funeral and burial costs, lawyer fees, mortgage balances, car loans, and outstanding debt.
• Ongoing Expenses: What are your family's day-to-day expenses? Think about things like groceries, gas and utility bills. An adequate life insurance policy will allow your family to maintain its standard of living in your absence.
• Future Expenses: Things like school, college tuition and retirement fall under this group of expenses. Without your income, will your children still be able to attend college? Will your spouse be able to retire as planned?

If you calculate those expenses less your existing resources such as investments and other life insurance policies, you can roughly estimate how much life insurance you'll need. However, the best way to find out exactly what you need is to give us a call. Our qualified life agents will help you find the right life insurance coverage for the right price. Below we've compiled a few different life scenarios that will help determine if you're ready to start looking into buying life insurance now.

• Married: If you are married you need life insurance for your spouse. You probably depend, to some extent, on each other's salary. The life insurance you purchase covers immediate expenses such as funeral costs and assures the surviving spouse will be able to get back on their feet.
• Married with Children: If you are married with children who all depend on your income then the need for life insurance has never been more important. Your family counts on your income to pay the mortgage to keep a roof over their heads, grocery bill, utilities, school tuition and so on. And upon your premature death, they also will need enough life insurance to supplement your annual income for years to come so that they may continue living a life without stressful financial problems later on down the road.
• Single Parent: If you are the sole income earner and guardian then your need for life insurance coverage exceeds most. Unfortunately, most single parents don't have any life insurance. Often, single parents have limited incomes and don't want to spend money on this additional expense. But a $250,000 life insurance policy could cost you as little as a dollar a day. This small expense is definitely worth protecting your children's financial futures.
• Stay-At-Home Parent: If you take care of your children, cook meals and maintain your home then you need life insurance. Think about if you could no longer provide these services, your family would have to pay someone to take over and that can be costly. To figure out the right amount of life insurance, approximate what it would cost to hire someone to fulfill these daily roles and ensure your policy will maintain your family's standard of living in your absence.
• Empty Nester: If your kids have graduated college and your house is paid off don't think for a second life insurance no longer pertains to you. People are living longer nowadays which means your spouse could out-live you by ten years or more. There is still a big need for life insurance.
• Retired: If you're retired you might be thinking life insurance is only for a married person with a young family. Wrong. Depending on the size of your estate, your heirs could be responsible for an estate tax. A life insurance policy pays for estate taxes, funeral costs and other debts so your family doesn't have to dip into their own pockets.

You've come To the Right Place!

Finding low-priced, affordable life insurance just got a lot easier! Hire us to find the right protection you need today. Complete our simplified online life quote form or for faster service dial 1-800-230-6565 to speak with one of our life insurance agents.