Do You Have Enough Life Insurance
February 3, 2010 1 Comment
Through life insurance, you can make sure your family is protected, even in the event of your death. Consider it your last act of love and kindness that you can perform. Although a vast majority do not have enough coverage. Could you be one of them?
Life insurance policies come in two basic forms; whole life and term life insurance. Whole life insurance offers death benefits plus cash value on account of which premiums are higher. On the other hand term insurance is affordable because it only concentrates on death benefits for which you pay cheaper premiums.
The rule of thumb in the insurance industry says that your coverage should be 10 to 20 times your annual income. However annual income is not the only factor that should be considered when determining your needs. How much term life insurance you need is a highly individual figure. But if you know exactly what your death benefits should help pay for, then you definitely won’t make the mistake of under-insuring yourself. So the long and short of the ‘how much is enough’ dilemma is that the death benefit you provide your family should be more than your net worth. For more information and a free life insurance quote visit our homepage at www.kimberleyvassal.com
With the current economic environment where peoples 401 accounts and their home value decreasing people are seeing the value of the guarantees that the right combination Permanent and Term life insurance provides. One question we always get from our insured’s and prospective clients is how much life insurance should I have? The industry recommendation is between 6 or 7 times your annual income. To recieve a 
Life insurance is necessary for people of all ages; it is much more important than many realize. The reasons why you should purchase this type of insurance can vary and sometimes it is confusing to decipher what type of life policy you should buy. At Kimberley Vassal Insurance Services, LTD., we make understanding life insurance easy! If you find yourself wondering why you should purchase life insurance, consider the following reasons:
