Benefits & Financial Services

Life Insurance

How much life insurance do you need? There are a number of questions to consider when determining how much life insurance is appropriate for you, such as:

  • Who depends on you for their well-being?
  • How much do you earn yearly? One rule of thumb is to think of life insurance coverage as ideally representing 10 – 15 times your annual earnings, after taxes. That way those left behind can be supported while they get back on their feet.
  • What debts do you have? If life insurance proceeds pay them off, your family;s financial burden will be eased.
  • How close are you to retirement? Generally, the closer you are to retirement, the more life insurance you will need.
  • Is your spouse is working, are you planning on providing a college fund for your children, and/or are you planning on paying possible estate taxes?
  • We take the time to understand your needs to determine the amount of insurance appropriate for your unique situation. We can then recommend different insurance product options to fit your needs and your budget. Call us today to find out more about this valuable protection benefit.

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