Nobody likes to think about life insurance much less talk about it but it should be part of everyone’s long term financial planning. Life insurance is much more than just the death benefit. Knowing that you have enough to take care of any dependents that you may have for as long as they need it is important. At Dove Insurance Agency we have more than 50 years of insurance experience that we are happy to share with our customers.
How much life insurance you need is dependent on several things.
Do you have dependents? Dependents can be your children and spouse but there are others who may be dependent on your income. You may have parents who may need some help as they age, a sibling with a disability, or even a business partner.
How old are your dependents? How many years do you want to provide for them? If you have young children the number of years may be as much as 20 or more considering they may want to go to college. For a dependent with a disability, it can be for their entire lifetime.
Do you have debt? Most people have some debt but it isn’t just about credit card debt or a car loan. If you have a home, likely you have a mortgage and if it is a recent purchase it can be quite large.
Have you taken care of your final arrangement? These days a funeral can cost upwards of $10,000 and even if you have no other life insurance, having enough to cover your last expenses can save your family trying to gather enough to pay.
Experts recommend that you have at least 8-10 years of your salary in life insurance. This is just a recommendation, your expectations may be much higher or lower. Only you can decide what is enough.
At Dove Insurance Agency in Christiansburg, VA we are here to help you to get the amount of life insurance that is right for you. Give our office a call for a no-obligation quote or get an online quote instantly!