For most people, determining how much life insurance one should have is not an easy task. Confronting the subject of death is difficult enough, but add to that the question, “How much is my life worth?” and you now have a subject that most folks would rather avoid. We have looked at many life insurance calculators that have line items for every family expense one can think of and multiply those expenses by an estimated time one would need income to support those expenses. While this is a great exercise, we have found the task to be too time-consuming for most people.This income-replacement approach has been used by many life insurance agents over the years and it’s fairly simple to use.
My apologies for the title of this post, but I wanted to get the attention of those of you who have procrastinated with getting a life insurance policy. Some of you know it’s something you need to do and “will get around to it someday,” while others have started the … Continue reading Letter to a (Dead) ProcrastinatorRead More
3 Most Common Reasons for Canceling a Life Insurance Policy Just as the name implies, life insurance is usually for life. After all, the policyholder’s family will only receive the death benefits when the policyholder passes away. So why would anyone cancel a life insurance policy prematurely? Individuals usually sign … Continue reading When is it appropriate to cancel a life insurance policy?Read More
Regardless of whether or not you’ve ever shopped for life insurance, you’re still probably aware of the fact that your health can have a major impact on how much you pay each month in life insurance premiums. But while it’s common knowledge that chronic conditions like cancer and diabetes, and … Continue reading Surprising, Yet Common, Health Conditions that Affect Life Insurance RatesRead More