National
Investors National Office
P.O. Box 460
Redfield, IA 50233
Toll Free: 800.838.2616
Fax: 515.833.2723 rjoe@nationalinvestors.com
Do I Need Life
Insurance?
Life
insurance is one of the best ways to stabilize your financial
future. It replaces wages that would be lost by the death of
an income earner. Life insurance also provides for expenses
that will surface when you die, so your loved ones aren't burdened
with the costs involved. One of the most critical features is
that beneficiaries won't be taxed when they receive what you've
left for them. There are a multitude of options when choosing
what type and how much life insurance you should put in place.
How Much Do I Need?
There
are a few factors that you and your family will need to
take into consideration when deciding what type and how
much life insurance to purchase.
Immediate
needs at the time of death, burial costs, medical expenses,
and estate taxes
Readjustment
costs, relocation, allowing time for employment search.
Continuing
costs such as monthly bills and expenses, future planning
like retirement and children's college expenses.
There
is no substitution for careful and accurate planning however
a good way to guess how much you would need is to take
your yearly income and multiply it by 5 or 6
Are
There Different Types of
Life Insurance?
There
are two different types of Life Insurance you can set in place.
Term Insurance and Permanent
Insurance. Both of which are exactly like their names
state. Choose which plan is right for you, depending on your
situation.
