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How Much Life Insurance Do I Need?

Insurance coverage is purchased for your dependents when you are no longer around to provide for them. Since the future is unknown, it can be difficult to plan your family’s financial needs months or even years from now. The best way to determine the proper amount of coverage is to complete an insurance “needs analysis” for the proper amount of coverage based on your current financial situation.
We recommend you consider these important factors in estimating your family's financial needs in the event of your death.
  • The amount of yearly income needed
  • The number of years this income will be needed
  • Mortgage, car loans and credit cards to be paid off
  • Future college education expenses
  • Anticipated funeral and burial expenses
  • Retirement funding needs
  • Special needs for children or other family member(s)

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