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DETERMINING YOUR NEEDS
Do you need more life insurance?
A number of factors
may indicate that it’s time to update your life insurance
coverage. Some of these factors are related to your age or the age
of your loved ones. Others relate to life events, obligations you
face or important plans for your family’s future. It’s
vital that you consider any of the following factors that apply
to you.
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| 1. |
Have
you purchased a new home that comes with a larger mortgage,
higher taxes, and increased maintenance costs? |
2. |
Have
you celebrated a recent engagement or marriage? |
3. |
Is
there a new member of your family to care for? |
4. |
Has
your standard of living increased? |
5. |
Do
you have more debt? |
6. |
Is
their enough money put away to pay for your children’s
education? |
7. |
Is
there an aging or disabled family member that needs
your help? |
| 8. |
Have
you experienced slower-than-expected growth of your
general savings, retirement accounts, or other investments? |
| 9. |
Do
you wish to shield you heirs from estate taxes? |
10. |
Has
inflation eroded the value of your current coverage? |
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Effects of Inflation on $100,000 of Term Life Insurance
Protection
| 0 Years |
5 Years |
10 Years |
15 Years |
20 Years |
| $100,000 |
$83,683 |
$70,029 |
$58,603 |
$49,041 |
This chart demonstrates how devastating an average
3.5% annual inflation rate can be to the value of your life insurance
coverage over 20 years.
If you answer “yes”
to any of the above questions, don’t wait. Use this opportunity
to get the additional insurance protection you need.
Back To 10 Year Term Life
Page
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