Despite the challenge of planning for life after death, many clients come to us at Brock and Poole Insurance Agency in Collierville, TN, in hopes of doing exactly that. Caring for dependents and other loved ones requires careful planning and conversations that are difficult for most. One of the most common insurance-related questions we receive is, “How much life insurance do I need?”
Because the answer is highly individual, we meet with each client face to face to discuss their current situation, their goals in purchasing life insurance, and their questions and concerns. Some of the most important things to take into consideration when planning for life insurance include:
- What are your goals? What are you hoping to achieve in purchasing life insurance?
- Whether you really need life insurance. If you don’t have dependents or debt, you may not need a life insurance policy.
- Which debts might be outstanding upon your death if you were to pass away today, in five years, or in 20 years.
- Which assets your family would have access to upon your passing, not including those they would need to keep in order to live comfortably, such as your home.
- How much income is required monthly to run your current household.
- How many dependents you have and how old they are.
- Whether your spouse works and how much he or she earns.
By exploring your personal goals and current financial standing, we can assist you in selecting a policy that provides the comfort and security you want for your family long after you pass away. Because insurance regulations vary significantly from state to state, choosing an agent in Tennessee is important in protecting your future.
To learn more, contact Brock and Poole Insurance Agency in Collierville, TN, today!