Like most types of insurance, life insurance is not one size fits all. It needs to be tailored to your particular situation and needs. Life insurance is affordable and it provides a very important type of protection to you and your family. For most people, this is a difficult discussion but a necessary one. Life insurance should be a part of overall financial planning and having an insurance agent who knows your situation and whom you trust is vital. At Focus Insurance in Eureka, MO, our clients are like family and we are experienced in helping them to plan for their future.
In order to determine how much life insurance you need, you must answer a few questions. Who depends on you to provide for them? How much debt do you have? Have you taken care of your final expenses? Do you plan to provide a legacy for anyone? Once you have answered these questions, you will have a better idea of how much money will be required.
If the people who depend on you include young children, you need to provide for them for a longer time. At a minimum, it is suggested that you have life insurance to equal ten times your yearly income. If you have a mortgage, this is a debt and should be added to the amount you must have. Depending on your age when you start buying life insurance, you may have to revisit the amount that you have purchased several times to keep it up to date with where you are in life.
If you haven’t already made plans for your family’s future, what are you waiting for? There is no time like today to give the office of Focus Insurance in Eureka, MO a call to sit down and discuss this important coverage. It is never too early or too late to think about life insurance.