Life Insurance 101

Why do I need life insurance?
There are many reasons for buying life insurance. If you're the primary wage earner in the family, life insurance is a good way to help provide your family with a stable financial future.

While it's difficult to face our own mortality, planning for it can ease the burden our loved ones will face later. Purchasing life insurance can help make a difficult situation easier by providing death benefits for:

• unpaid medical bills
• income replacement for survivors
• final expenses like burial costs
• unplanned or emergency expenses
• future education funds for your children

Remember, you can also use some life insurance products:

• to help you establish an estate plan
• as a component to your savings strategy
• for retirement income
• even to pay for estate taxes

What should I consider?
Every person has a different idea of what financial security means. If something should happen to you, how much money would your family need? You should consider:

• your current debt
• expenses your family can expect to pay after your death
• your family's future needs

A general rule of thumb to calculate your life insurance needs is to multiply your annual salary by seven.

1. What is "Uninsured Motorist" coverage?
   This is your protection against someone getting in an accident with you who does not have insurance.
   
   
2. How do I choose the right coverage for me and my family?
   As income increases your insurance needs will change. Your exposure to lawsuits due to some measure of negligence on your part or your family requires coverage to protect your hard earned assest. Specfic amounts depends on your tolerance for risk as well as actual annual earnings as well as assests. Sitting down with an agent can give you the specifics.



3. Why should I choose your company instead of the "big name" firms?
   While price and ease of use is high on everyone's priority list, having an agent you can trust might be higher. The time of crisis is a time your agent earns the trust of his client.