Deciding on the Right Amount of Life Insurance

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Life Insurance Questions

Life insurance can benefit everyone. Even if you do not have any dependents, investing in the right life insurance company can help to provide a financial cushion for your loved ones after you are gone. When deciding how much coverage you need to invest in, make sure to ask yourself these questions.

  • Do I have any dependents? Dependents do not have to be children or a spouse. If you are helping your parents out financially into their golden years, they are considered your dependents. Invest in enough life insurance that will help to replace any financial help that you are providing to anyone.
  • Are my savings and retirement enough to support my dependents? Unless you have very substantial retirement and savings accounts, they will most likely not be enough to cover all of the day to day costs of your dependents when you are gone. A life insurance policy can be the additional income needed to ensure that your loved ones will be well taken care of.
  • Do I have a plan for covering final expenses? The cost of a typical funeral can reach as much as $15,000, which can be financially devastating to your family if they have to all of a sudden come up with the money. The payout that is provided by your life insurance company can provide the additional money needed to ensure that your family is able to give you the funeral that you deserve.
  • Can I help out my favorite charity? If you were involved with any type of charity or organization, you can name them the beneficiary of your life insurance policy, ensuring that you will leave them with one last donation.

For all of your life insurance needs, contact the insurance professionals at Idaho Insurance / Affordable Insurance in Caldwell, Idaho.

Get a Quote or call for a quote at 208-459-0070