With Insure your Love month a little over a week away we want to touch base on the cost of life insurance and how much you may need? According to a 2013 LIMRA and Life Foundation insurance barometer study, 86% of people say they haven’t bought life insurance because it is too expensive, yet they have overestimated the cost by 2x. In many cases term life insurance is very cost effective. Whole life and Universal Life products run a more expensive premium, but give you cash value. These policies can be used as a piece of your retirement plan. Life insurance can be bought on a what you can afford basis. In this case you give the agent what your monthly budget is and they help you discuss options for what level of coverage you can buy. You might be surprised at the amount of life insurance you can afford.
If the cost of life insurance is not an issue, maybe you are concerned about how much life insurance you need. Life insurance needs calculators are a great way to determine the death benefit that your family would need in the event of your death. Click the link to go to lifehappens.org and their needs calculator.
https://lifehappens.org/insurance-overview/life-insurance/calculate-your-needs/
We would also encourage everyone to call us so that we can discuss your life insurance needs and budget. You can reach us at 412-344-2800 or by using any of the widget buttons in the top right hand corner.
