How much life insurance should you have? Probably more than you think. Here are some things to consider:
You really want to leave your family with enough money so they can replace what you earned solely with the interest of the life insurance proceeds. After all, if they have to spend the principal from your life insurance to live, they’ll eventually run out of money.
Let’s say you earn a hundred thousand dollars a year. It would take a nest egg of 2-million dollars earning 5 percent interest to replace that hundred thousand dollars every year. Of course, you may have other assets that can help make up the 2-million. But figure if you can earn 5 percent… you’ll still need life insurance of twenty times your annual income, minus other liquid assets such as cash, stocks or bonds.
To learn more, visit The Education Center at LifeInsure.com. And be sure to fill out our online form for your FREE, NO OBLIGATION quote.
Life Insurance – How to Get the Best Rates watch here
Term Life Insurance – What is it? watch here
Whole Life and Universal Life Insurance watch here
Why Choose LifeInsure.com? watch here
The New Year is still young, which means many of us haven’t yet given up on our resolutions. So if being better with money was on your list of things to improve on in 2016, we’ve got a few tips to help you stick to it. 1. Educate Yourself Several … Continue reading 5 Ways to Improve Your Finances in 2016Read More
When it comes to applying for life insurance, many companies don’t see much of a difference between regular smokers and users of e-cigarettes. Although little is known about the effects of e-cigarettes, both products are seen as a health risk. Before signing up for a policy, it’s important to understand … Continue reading How E-Cigarettes Affect Life Insurance RatesRead More
If you own a life insurance policy, you might be interested to know that there is a relatively high risk of your benefits going unclaimed after you pass away. In fact, according to a Consumer Reports investigation, there is currently close to $1 billion dollars in unclaimed life insurance benefits … Continue reading How to Make Sure Your Life Insurance Benefits Don’t Go UnclaimedRead More