How much insurance coverage do you need?
Your first priority is to mitigate risk in your financial life, so you don’t leave a burden behind for loved ones.
Here are a few things to consider:
- Other insurance policies you have
- Your income
- Total Net worth
- Family needs and expenses
- Current Debt
How much will life insurance cost me?
It all depends on the type of coverage you choose. Generally, term insurance is more affordable than permanent insurance. There are a lot of factors that determine the cost of your policy, including:
- Health - family history, chronic diseases and lifestyle can increase cost.
- Gender - Women live longer than men on average, so their insurance may cost less.
- Occupation - Are you in a dangerous job? Your insurance costs can be higher.
- Age - Younger clients on average have cheeper policies.
