The question of how much life insurance is enough is something most people struggle with. It is not as simple as saying a particular figure. The figure you come up with has to not only be affordable it has to make sense and provide protection to those you leave behind. It is your personal gift to your family which is why it is not like everyone else’s. At Stanley Insurance Group in Hilliard, OH we are an independent agency which means we work for our clients, not an insurance carrier, and we are able to provide the most choices.
Buying life insurance is best done when you are young, but this is also the time when you probably have the least need of it. It does pose a dilemma. Buying term insurance doesn’t make sense since the term may run out before the time when you need it most. Whole life makes better sense at this point in your life since it will last an entire lifetime, but it is more expensive and that may figure as a deterrent. Your insurance agent can guide you to the best type of life insurance to set you up for the future.
Your time of greatest need for life insurance will be when you have a young family. This is probably a 20 to 25-year period of your life. Term insurance can be had in 30-year terms which may make sense. You need to provide for the time when your children are growing up. Experts suggest from 7-10 years of salary as the ideal, but only you can decide how much life insurance will make your family feel secure knowing they will be protected if they lose your income.
Contact Stanley Insurance Group in Hilliard, OH to discuss your life insurance requirements in person or on the phone.