I received a phone call from a person I had never met to review his insurance. He had recently moved from California, had a 1-year-old baby and felt he needed to replace his group term life insurance, which his company had reduced after recently being acquired by another firm.
I spent time with him and his wife reviewing their financial needs and asking a series of questions about their current and future goals, and then I suggested they go to LIFE?s online Life Insurance Needs Calculator and the Human Life Value Calculator on the LIFE website. We scheduled a follow-up appointment for the next week.
When they returned to my office, I asked if they had run their own numbers based on their requirements. They had, and they determined they needed substantially more life insurance than they currently owned, including new coverage on both the husband and wife, along with a small policy for their baby.
While I guided them through the decision-making process, they determined the amount they actually needed. It worked out to be a similar number to what I had originally calculated, but now it was their number, not mine.
If you are unsure about how much life insurance you and your family need, check out these insurance calculators on our website. It may be one of the best decisions you make for your family.
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Source: http://lifeinsurancehealth.net/how-much-is-enough/
chris brown rick ross vermont jared leto jared leto pubmed pubmed
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