If you’re not here, the plan keeps going.
Life insurance isn’t really about you. It’s about the mortgage, the kids’ schooling and the life your family keeps living. The point is to size it properly, not to buy the biggest number.
Sound familiar?
- Someone depends on your income: a partner, children, or parents you help.
- You have a mortgage or debts that would land on someone else.
- Your only coverage is through work, which often ends the day you leave that job.
A death benefit paid tax-free to your beneficiaries.
Life insurance pays a death benefit, paid tax-free to your beneficiaries, when you die. Term insurance covers a set number of years at a lower cost; permanent insurance lasts your whole life and costs more.
For the years people depend on you
Coverage for a set period, like 10, 20 or 30 years. Usually the most coverage for the money, and it lines up with the mortgage and the years the kids are at home.
For needs that don’t end
Coverage for life. It suits needs that last, like the tax bill at death, leaving an inheritance, or making sure there’s always something for the people you love.
Four letters: D-I-M-E.
Add up what your family would need, then subtract what’s already in place.
Everything that would otherwise land on someone else.
Your income for as many years as your family would rely on it.
So your family can stay in the home.
What you’d want set aside for each child’s schooling.
Then subtract existing coverage (including at work) and savings your family could use. The life insurance needs calculator does the arithmetic.
Three steps from the Clarity Process.
- 01
Conversation
Who depends on you, what you owe, and what coverage you already have, including at work.
- 02
Clarity
The gap between what your family would need and what’s in place today.
- 03
Confidence
Coverage sized to that gap, in your own name, at a cost that fits the budget.
Questions people ask.
How much do I need?
Enough to cover your debts, replace your income for the years your family would need it, pay off the mortgage and fund education, minus what you already have. The needs calculator gives you a starting number.
Term or permanent?
Most young families need term: a lot of coverage for the years that matter most. Permanent makes sense for needs that last a lifetime. Plenty of people end up with some of each.
Isn’t my work coverage enough?
It’s a good start, but it’s often only one or two times your salary, and it usually ends when you leave the job. Coverage in your own name stays with you.
Do I need a medical exam?
It depends on your age, your health and the amount. Many applications start with health questions, and the insurer decides whether an exam or other medical evidence is needed.
What if I change my mind?
After a policy is delivered, there’s a short review period in which you can cancel for a full refund of premiums. After that you can stop paying and end it, though the coverage ends too.
Coverage is subject to eligibility and underwriting. Costs depend on age, health and the amount of coverage.
Related
The first step is a conversation.
Free, 30 minutes, by phone or video. You leave with Your One-Page Picture, and Your 3 Moves arrive in writing within 24 hours.
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