First and foremost is the fear we have as human beings of our mortality. Will we be around to dance at our daughter’s (or son’s ;D) wedding? Will we be around to see our grandkids? Will we be around to see our great-grandkids? Did we spend enough time with the people that mattered the most?
The second biggest fear we have is did we enjoy our life? Did we do the things we wanted to do? Have we made a difference? What was the meaning of our lives?
Third, and probably the one that weighs on the common man’s mind the most is of our legacy and what we leave behind to our loved ones. Did we make the right financial decisions in our lives? Are we leaving our loved ones in the right position? Did we save enough? Have we prepared them for life without us? Did we spend enough time making sure the ones that mattered most were taken care of long after we were gone?
A proper Life Insurance policy can put these fears to rest without losing a single nights sleep over it. With the right coverage one can protect their family from the expenses that go along with burial and funeral arrangements, as well as covering any unforeseen medical expenses incurred in our 11th hour. The right Life Insurance policy can also make sure your loved ones are provided for in the right way.
So what IS the “right” coverage for your Life Insurance policy? A general rule of thumb in the insurance industry from experts all over the country is the “10 X rule” – in other words the total payout of your policy should be ten times your annual salary. The idea behind this tried and true methodology is that if properly invested, ten times your annual salary could provide for your loved ones for up to twelve years after they have lost you. Some folks need more, some can do with much less. There is no ‘one size fits all’ cap when it comes to Life Insurance policies. What works for me might not work for you and what works for you might not work for the next person, so on, and so forth. Each case literally is different.
Call us today and give us fifteen minutes to make sure you have the best policy for your situation.