When we are assisting clients in building their personal financial plan, inevitably one of the most frequent questions that comes up is: “How much life insurance should I have?” It’s an important question to ask because if something unexpected were to ever happen to you or your spouse, it could put your family in a very difficult financial situation. To help mitigate this risk, people buy life insurance to guard against this type of unfortunate event but it’s important to know how much life insurance protection you should have. If you have too little, the coverage might not be enough to meet your family’s financial needs. If you have too much, you might be wasting money on insurance that you don’t need.
In this video we’re going to go over the top 8 variables that factor into how much life insurance you should have, as well as, what type of insurance might make sense for you.