How Much Life Insurance Do You Need?

With each new and existing customer I always ask about their current life insurance needs. Life changes and also the need for life insurance changes along with it. I really preferred the, "Needs Analysis", test when it comes to determining how much coverage and what type. When it comes to the needs analysis, it really boils down to one main question,

"If something happen to you today, what do you want to be taken care of with your life insurance program?"

When you determine those needs and what amount of coverage, you must decided whether those needs are permanent where they will always be with you or temporary where they will be here for a limited amount of time.

If a permanent need, a whole life insurance program might be the route to go since that is a permanent life insurance program if funded correctly. If temporary a term insurance program may be the one to look at since it is for limited amount of time.
Again, it is very important to sit down with a professional to determine how you need and the, "Needs Analysis" test is good place to start.