Do You Have Enough Life Insurance

The right life insurance can make a big difference to your family. But many people don’t know how much or what kind of coverage they need. After all, life insurance isn’t something we really like to think about. So what about you? Do you have enough life insurance? It’s a question that is easier to answer than you might think. Most families decide they need life insurance equal to five to 10 years' worth of their income.* But, the only way to determine how much you need is to do the math.

Here's how to estimate your life insurance needs:

1. Using the chart below, find the approximate monthly income you need to replace and the number of years for which you want replacement. Be sure to think about replacing your income and any additional expenses you may incur (such as childcare and housework) that, if not performed by a family member, will probably cost you money.

The figure you arrive at is the amount you would need in cash TODAY (based on an eight-percent annual interest rate) to maintain your family’s quality of life. For example, if your family needs $2,500 a month for 10 years, you would need to have $206,100 saved (and accumulating eight percent interest) to adequately cover your family. That means TODAY you need $206,100 in protection.

2. Now, ask yourself, how much cash your family would actually have available if one of its income earners or caregivers died tomorrow. What is the chart telling you?

When you buy income protection for yourself or your spouse, you are making one of the most important financial decisions you’ll ever make. The proper type and the right amount of life insurance can have a vast effect on your family’s security if you die, and your quality of life if you live. For more information about a customized income protection program, contact Us today to protect you, your family, and your loved ones future.

* Money, November 2001

Determining Your Coverage
Meeting Your Monthly Income Objective at 8%*

Monthly
Income

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

$5,000

Years

2	$44,300	$55,300	$66,400	$77,400	$88,500	$99,500	$110,600
4	82,000	102,500	122,900	143,400	163,900	184,400	204,900
6	114,100	142,600	171,200	199,700	228,200	256,700	285,200
8	141,500	176,900	212,300	247,600	283,000	318,400	353,700
10	164,900	206,100	247,300	288,500	329,700	370,900	412,200
12	184,800	231,000	277,200	323,400	369,600	415,800	462,000
14	201,800	252,200	302,700	353,100	403,600	454,000	504,400
16	216,300	270,300	324,400	378,500	432,500	486,600	540,600
18	228,600	285,800	342,900	400,100	457,200	514,400	571,500
20	239,200	298,900	358,700	418,500	478,300	538,000	597,800
22	248,100	310,200	372,200	434,200	496,200	558,200	620,300
24	255,800	319,700	383,700	447,600	511,500	575,500	639,400
26	262,300	327,900	393,400	459,000	524,600	590,100	655,700
28	267,900	334,800	401,800	468,700	535,700	602,700	669,600
30	272,600	340,800	408,900	477,000	545,200	613,300	681,500
32	276,700	345,800	415,000	484,100	553,300	622,400	691,600
34	280,100	350,100	420,100	490,200	560,200	630,200	700,200
36	283,000	353,800	424,500	495,300	566,000	636,800	707,500
38	285,600	356,900	428,300	499,700	571,100	642,400	713,800
40	287,700	359,600	431,500	503,400	575,300	647,200	719,200

* The hypothetical illustration is intended to show compounding at an 8% interest rate
(compounded monthly), and is not intended to show the performance of any actual program. All numbers rounded up to the nearest $100.

SEO Super Success Secrets

Have a Website?
Want to IMPROVE your rankings and get MORE TRAFFIC?

If you want to learn to consistently generate stampedes of traffic to any website...no matter what you sell, how experienced you are, or the size of your budget...then you want to purchase SEO Super Success Secrets, the amazing program that truly makes SEO easy.

This program is a complete, step-by-step multimedia course that will teach you how to generate consistent and unstoppable visits from streams of qualified leads and prospects. With SEO Super Success Secrets, you will see your website ranked on the major search engines within 24 to 48 hours of implementing it.

Click Here to Buy!

PERSONAL LOAN PROGRAMS

Arizona Home Loans

Realtor Scottsdale Arizona | Pool Service Arizona | Video Production Arizona | Private Jet Rental Arizona | Limousine Service Phoenix

site designed by: Personal Trainer