Life insurance is not the same as health insurance. Health insurance only covers certain things:
- Coverage of hospital
- doctor visits
What a lot of people do not think about is life insurance.
Life insurance is important to have. because this way your family is protected in case something happens to you. This protection will look different for different people.
Many people have life insurance through their employer. If they leave that employer, they no longer have insurance. We need to make sure you have life insurance – and what we want to do is to figure out what coverage you need.
This is going to depend on the age of the children, and the debts that you have, because your life insurance can cover more than just funeral expenses (you get a smaller policy that covers just funeral expenses).
If you’ve got small children, maybe you want to set up college funds with life insurance, or if you’re the primary breadwinner, or even your family relies heavily on your income you want to figure out how much of your income you want to replace if something happens to you?
That’s a big number – and often people think that they have enough; “I’ve got a million-dollar policy, my spouse is going to be great if I die”.
All right, well, let’s break that down.
Let’s say you are 40, and you are planning to work until you are 60.
So that is 20 years of income that you would need to replace.
Let’s say you make $50,000 a year, that million-dollar policy is not going to be enough unless your family takes a salary cut, if something happens to you.
My goal is to help you plan well, according to your circumstances.
I can save money on your health insurance, which leaves some money available, hopefully, to buy that gap insurance, whether it’s for accidents, cancer, disability, disability, or final expenses, or whatever, if you have enough savings we can add additional life insurance to give you and your family peace of mind simply happens to let’s do that.