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.

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?

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.


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