Life insurance, How Much Is Enough?
Having the proper amount of insurance is an important step in protecting your estate and your loved ones from potential financial disaster.
According to the 2010 Trends in Life Insurance Ownership study, conducted every six years by LIMRA (Life Insurance and Market Research Association), only 44 percent of U.S. households have individual life insurance. That’s a 50 year low! The study also showed that the number of households without insurance is increasing. In 2004, 22 percent of households had no insurance, in 2010 that number had increased to 30 percent.
Before you can determine how much life insurance you need, you need to know what you are trying to accomplish. Depending on where you are in life, your needs can vary drastically. Attached is a helpful article and worksheet that can guide you through the process of evaluating your insurance needs. It can help you understand if you have enough to meet your family’s needs. Your results may be surprising.
Take a few minutes and use the attached worksheet to find out where you stand. If you would like help assessing your situation please feel free to ask either myself or Gary. We would be happy to help you assess how much insurance you may need and where to get a policy that best fits your situation.
Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.