Life Insurance Needs Will Change Over Time…So Be Prepared

If you’re going to achieve all your goals, such as sending your kids to college, retiring in comfort and leaving a legacy, you will need to save and invest throughout your lifetime. But to really complete your financial picture, you’ll also need to add one more element: protection. And that means you’ll require adequate life insurance for your situation. However, your need for insurance will vary at different times of your life — so you’ll want to recognize these changing needs and be prepared to act.

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Time to Review Your Investment Strategy for the Year

As the year draws to a close, it’s a good time to review your progress toward your financial goals. But on what areas should you focus your attention? Of course, you may immediately think about whether your investments have done well.

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Protect Three Key Goals With Life Insurance

Clearly, a life insurance policy could allow Jim or Joan to continue on with life, despite, of course, the devastating emotional loss of a partner. But how much insurance should they own? You might read that most people need a death benefit of seven to 10 times their annual income. This might be a good starting point, but everyone’s situation is different. You should consider all factors – including liabilities, income replacement, final expenses and education – to get an accurate picture of how much insurance is appropriate. A financial professional can help you with this calculation.

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