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Life Insurance

The need for life insurance is dependent on your own personal and financial needs. We can assist you in determining what type and amount of life insurance is appropriate for you. Generally, you should consider life insurance if:

  • You have a spouse
  • You have dependent children
  • You have an aging parent or a physically challenged relative who depends on you for support
  • Your retirement savings are not enough to insure your spouse's future against a rising cost of living
  • You have a sizable estate
  • You own a business

There are benefits of life insurance other than providing for your loved ones in case something happens to you:

  • The cash value earned and borrowed from a permanent life insurance policy can be used to help with large expenses, such as a college education or down payment on a home.
  • The growth of a cash-value policy is tax-deferred -- you do not pay taxes on the cash value accumulation until you withdraw funds from the policy.
  • Life insurance can be used to cover funeral expenses and pay estate taxes -- consult your tax advisor agent for more information.

Life Changes - So Should Your Policy
Your need for life insurance is dependent on your personal and financial needs. As your life changes, your life insurance coverage may need to change as well to adapt to your current needs. Some life changes that may require a policy "tune-up" include:

  • You recently married or divorced
  • You have a new child or grandchild
  • Your health or your spouse's health has deteriorated
  • You are providing care or financial assistance to a parent
  • Your child or grandchild requires assistance or long-term care
  • You recently purchased a new home
  • You are planning for a child or grandchild's education
  • You are concerned about retirement income
  • You have refinanced your home mortgage in the past six months
  • You or your spouse recently received an inheritance

How Much Life Insurance Do I Need?
Your age and income have a direct bearing on your life insurance needs. Generally, the younger you are, the more insurance you need to replace a loss of lifetime income for your beneficiary or beneficiaries. To calculate the recommended coverage, select your age category and determine the multiple of coverage. Multipy the coverage multiple by your annual income.

Your Age 20 - 30 31 - 40 41 - 50 51 - 60 61 - 65 66 and older

Multiple  15X 15X 10X 7X 5X 3X

Find out more about our customized insurance plans. Call us now, or simply fill out our no-obligation Quote Form.