How Much Life Insurance Do you Need?

The term ‘life insurance’ has crossed our paths at some point. It can be a daunting idea, even if we understand its purpose, importance, and benefits.

While the task of purchasing life insurance seems simple, some parts of the process are difficult and stressful to navigate such as determining what type of insurance to get and how much life
insurance you need.

About 52% of Americans have life insurance, which includes individual and workplace life insurance, according to Forbes Advisor.

Life insurance helps provide the resources needed at a time of loss. Someone who owns life insurance pays a regular premium into a life insurance policy. The life insurance coverage is usually a lump-sum amount. In the event that person dies, their beneficiaries receive the lump sum of money from the policy.

Although having life insurance is common, some hesitate to purchase it. One of the most common reasons people decide against buying life insurance is uncertainty. People are not sure
what type of life insurance to buy or how much to buy, according to LIMRA.

Two other reasons include cost and that it is not a financial priority, according to LIMRA.

These uncertainties and concerns can be eased by talking with an Insurance Network Agency Team member.

The team can take the weight of these questions off your shoulders by offering guidance in determining the right type of life insurance for you and calculating the amount of life insurance you’ll need.

Life insurance can be stressful and a difficult topic to discuss, but the Insurance Network Agency is here to offer you peace of mind by setting you up with life insurance that best suits your needs.

Interested in finding out more? Start your investigation here and then contact us to answer any further questions. We’re here to help!


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