Client Relationship Summary Client Relationship Summary Planning for the future means focusing on the dreams and goals important to you and your family. In the years to come, you'll put great effort into saving what you can and investing it wisely in order to make those aspirations a reality. What many people forget, however, is to make sure they're putting at least a little time and effort into protecting what they've worked so hard to build. Despite your best efforts, you can't predict what unexpected events might alter the course of your best-laid plans. What you can do is make sure you and your family are prepared. From establishing an emergency fund to ensuring your investments are...
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Life Insurance Needs Can Change Over Time It’s easy for many of us to approach life insurance with a “I’ll handle that later” or a “set it and forget it” mentality, and to assume that you have time to sort out the details of adequate coverage down the road. Yet, life insurance can play a key role in protecting your loved ones financially should you pass away unexpectedly. The role protection plays in your financial plan often depends on your life stage. Here are several examples of when you may want to evaluate your life insurance options. Young adults starting their careers When you settle into your first or second job and take on responsibility for your own financial matters, you likely...
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Assess Life Insurance Needs If your family relies on your income, it’s critical to consider having enough life insurance to provide for them after you pass away. But too often, life insurance is an overlooked aspect of personal finances. In fact, according to a 2021 study conducted by Life Happens and LIMRA, which closely follows life insurance trends, nearly 50 percent of Americans say that they have no life insurance coverage at all, even though 59% of people without life insurance recognize the need to obtain it. Role of Life Insurance Realizing the role life insurance can play in your family’s finances is an important first step. A critical second step is determining how...
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How much life insurance do I need? You have decided that you need to buy a life insurance policy, and now wondering, just how much life insurance do I need? Determining the amount of life Insurance coverage one needs involves analysis into one’s finances and current lifestyle expenses. Everybody would love to leave a fortune for their family when they die and wonder how much life insurance is the right amount. After all, when you’re gone, there’s going to be a giant you-sized hole in their lives. They will have lost a parent, a spouse, a sibling, a child… bummer is an understatement. It’s natural to think that with a multi-million dollar term life insurance policy, if you die, at least your...
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Life insurance helps reduce financial risk to your family if something happens to you. But coverage that meets your needs when you’re 25 may not fit when you reach 45 or even 65. To start looking at your life insurance needs, ask yourself, “What will my family need if I die?” It may be helpful to use a calculator or worksheet to find out what coverage you need. Download the Life Insurance brochure at www.kpers.org or try an online calculator. The brochure has a worksheet on the last page you can use. Consider your age and the stage of life you’re in. Not everyone’s insurance needs will be the same, but here are some scenarios to give you an idea. Single and in Your 20s You may not need...
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Everyone’s circumstances are different but getting life cover can protect you and your loved ones when they need it most. But who should get life insurance and when? In this guide, we’ll explore what types of life insurance can be useful depending on your age, work status and family factors, and ultimately, whether you really need it. Life cover explained Before we can help you decide whether you need life insurance, we should settle any confusion about what it is. Life cover can refer to various types of life insurance, where in exchange for your premiums, your loved ones can claim a cash sum in the event of your death (if that happens during a defined policy term). This is...
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Life insurance is important - and worth having before you really need it. If you’re nodding in agreement but also wondering How much life insurance do I need? you’re not alone! Even though we can’t predict when our time is up, we can control how much of a life insurance payout our loved ones will get when we die. What better way is there to lift those financial worries from your family’s shoulders? Let’s look at how to work out your magic number. And don’t sell yourself short; you’re worth more than you think... How Much Life Insurance Do I Need? Let’s get straight to the point: Dave says get coverage that’s equal to 10-12 times your...
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How to Calculate Your Life Insurance Needs It's easy to purchase too little, or even too much, life insurance. This guide will help ensure you're prepared to make the prudent choice when purchasing this critical product. A question I’m often asked is, how much life insurance do I need? The answer begins with the question, what is the purpose of life insurance? The purpose of life insurance is to replace the financial loss to the survivors that results from the death of the insured. In other words, we need to replace the income of the deceased, and pay off the debts incurred by the deceased. Let’s start by calculating how to replace the income of the deceased. The amount is...
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LAWRENCEVILLE, Ga., Aug. 31, 2020 /PRNewswire-PRWeb/ -- The pandemic and topsy-turvy economic outlook continues to put financial strain on many of us, so it just makes sense to examine our budgets and look for ways to trim the fat from our monthly expenses and put more into savings, if possible. "That's a great way to help stabilize your finances, but it's also important that you have a financial safety net in place in case something were to happen to you," says Lee Duncan, CMO...
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LAWRENCEVILLE, Ga. (PRWEB) August 31, 2020 The pandemic and topsy-turvy economic outlook continues to put financial strain on many of us, so it just makes sense to examine our budgets and look for ways to trim the fat from our monthly expenses and put more into savings, if possible. “That’s a great way to help stabilize your finances, but it’s also important that you have a financial safety net in place in case something were to happen to you,” says Lee Duncan, CMO & EVP of Alliance Group in Lawrenceville, GA. “Life insurance is one of the few guarantees your family can rely on to maintain their quality of life if you were no longer there to provide for them.” (Check out these powerful...
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