3818 Mogadore Rd.
Mogadore, OH  44260
330-628-2631
info@broderickinsurance.com
Life


Life insurance is one of the most important purchases you will ever make.  Tragedy can strike a family at anytime.  Life insurance proceeds can help your family in many ways.  How would you pay your bills on a single income? Your children’s education? Retirement?  These are some of the situations that life insurance addresses.

How much Life Insurance Do I Need?

This question can be answered by a simple calculation.  How much money will your family need after you are gone.  Ask yourself:

How much money will my family need after my death to meet immediate expenses, like any dept you may have incurred and funeral costs?

How much money will my family need to maintain their standard of living over the long run?

Life insurance proceeds can help pay immediate expenses including uncovered medical costs, funeral expenses, final estate settlement costs, taxes and other lump sum obligations such as outstanding debts and mortgage balances.  Future financial commitments such as everyday living expenses, money for college, and your spouse’s retirement are also circumstances that life insurance can cover.

Now that you know what factors to consider when determining how much life insurance you need, it is time to compute a dollar amount of coverage.  The most common way to determine this amount is by conducting what is called a Capital Needs Analysis.

Current and future financial obligations MINUS existing resources including survivor’s earnings, savings and investments that you already have EQUALS life insurance needed:

 CURRENT AND FUTURE OBLIGATIONS

 MINUS

EXISTING RESOURCES

EQUALS

 LIFE INSURANCE NEEDED

Remember, this simple analysis is no substitute for the guidance and assistance you will receive by meeting with one of our qualified insurance professionals.  If you are serious about protecting your family’s future, complete our life insurance quote request and/or contact us.

For a no obligation plan comparison, product explanation and accurate quote, click the link below to get a life quote now:

GET A LIFE QUOTE

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