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Why do I need Life Insurance?

We buy life insurance because we want to make sure that our loved ones, especially our dependents, can remain financially secure after we die. Income replacement is the #1 reason why people buy life insurance. Stay-at-home moms or dads also have an important, often overlooked, economic value that should be covered by life insurance. Life insurance is also used to achieve specific business or estate planning goals.

How much do I need?

We recommend that each family income provider carry no less than ten times their annual income in life insurance. The amount of your outstanding mortgage should also be a consideration. Any coverage for your mortgage should be in addition to the amount of insurance you calculate for your income coverage. It’s quite common to see life insurance also referred to as mortgage protection insurance since most people equate buying life insurance with the need to pay off large debts.

Why do we only sell Term Life Insurance?

The easiest life insurance to understand (and the lowest cost to buy) is term life insurance. Term life insurance provides straightforward death benefit protection without any expensive “cash value” or investment component add-ons. Term life insurance offers level premiums for your choice of 10, 15, 25 or 30 years during which the premiums are guaranteed not to increase. As long as you pay your premiums on time, the company cannot cancel you. We would never buy anything else for our family!