Get a life insurance overview.
YOU NEED LIFE INSURANCE [00:00]ELAPSED TIME START
If you financially support a partner, children or aging parents, you need life insurance. It will help your loved ones pay for your final expenses during a difficult time, and also provide financial support to maintain a standard of living that they’re used to.
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A common myth is that life insurance is too expensive. Fact is, more than half of Americans estimate the cost of a term life insurance policy at more than three times the actual cost. Younger Americans are likely to estimate the cost to be as much as five times the actual cost. Life insurance can be a cost-effective way to provide the financial resources your family needs when you’re no longer here.
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So, how much life insurance do you need? The rule of thumb is to have enough coverage to be able to maintain the standard of living that your family is used to. A good amount to start with is enough insurance to pay off all debts and replace your annual income for at least five years. This should give your family enough money to keep the roof over their head and their living needs paid for.
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To see what your life insurance needs are, select “Get My Estimate” and see how budget friendly it can be to provide security for your family’s financial future.
Which type of Coverage is best for me?
Life insurance generally falls into two categories — temporary and permanent. The right fit for you often depends on your goals.