How much life insurance do I need?
Here is a simple way to calculate your family's needs:
Here is an example: Joe is 35 and works as a software engineer. His annual income is $100,000 and is the sole income source of the family. If anything unexpected happens to him, he wants to support his family until his young daughter graduates from college, which would be another 20 years.
He has a total debt of $20,000 and $50,000 in savings and investments. Therefore, the recommended amount of life insurance coverage for Joe would be: $100,000 X 20 + $20,000 – $50,000 = $1,970,000
One Quick Form to Protect Your Family
Find the coverage that is right for you and your family
Have you recently acquired a new home or asset? Do you have children that will head to college soon? With term insurance, you can protect your family from the potential burden of loans.
Whole Life Insurance
Getting older? If you want to cover final expenses and leave wealth for your loved ones, whole life insurance is a good choice with its accumulating cash values.
Are you seeking coverage similar to whole life insurance, yet with more flexibility? Universal life insurance may be the right fit for you.