red shield icon for life insurance

LIFE INSURANCE

What’s the one thing that can instantly mean you won’t accomplish your family’s financial goals? It’s your untimely death. It’s the one risk that immediately pushes aside the retirement, college funding, home ownership, and any other plans you may have made for your family.
A financial plan without adequate life insurance is no financial plan at all.

If anyone else is relying on your income, and would be unable to pay their bills without your support, you need to have LIFE INSURANCE. That means parents of minor children, but also anyone financially supporting their parents, spouse or any other family member as well.

Finding the Right Insurance

Most people’s needs are met by a term life insurance policy. This is a policy that’s in force for a set period of time, or “term,” such as 20 or 30 years. The goal is to have term insurance up until either:

– No one is relying on your income anymore
– Or you’ve built up large enough financial assets that, in your absence, those assets could sufficiently support those who do rely on your income

PERMANENT LIFE INSURANCE is meant to cover a buyer for the entirety of their life, on the assumption there is an insurance need that won’t go away any time prior to their death. With few exceptions, such as those with a special needs child, the additional expenses associated with permanent life insurance make it not the ideal tool to meet a life insurance need.

How Much Life Insurance Do You Need?

You probably need more life insurance than you think. But since that answer is insufficient, let’s look at the different considerations that impact how much life insurance you need. Depending on many other factors in your financial plan, your insurance need changes, which is why going only by broad rules of thumb can lead to being significantly under or over insured.

AGE

AGE

Broadly, if you have an insurance need, you will need more insurance when you are younger and less as you age.

DEBT

DEBT

Most debts must be settled by your estate, but most federal student loans do not.

FAMILY

FAMILY

How many kids you have, their ages, and what you hope to leave them all play into your life insurance calculation.

FINANCIAL GOALS

FINANCIAL GOALS

If you’re planning to fully fund your kids’ college education, you need more insurance than someone who does not include that on their list of financial goals.

SAVINGS RATE

SAVINGS RATE

Take two people who each earn $150,000 per year. Person A saves $30,000, and spends (including taxes) the other $120,000. Person B saves $10,000, and spends (includes taxes) the other $140,000.

BURIAL COST

BURIAL COST

For most people this is a smaller part of the overall need, but should be factored in as well. If you intend to be cremated, your end-of-life expenses are likely less than someone with a burial wish.

NEED HELP WITH YOUR LIFE INSURANCE?

Our well-trained, experienced agents are ready to answer questions about your Life Insurance and put together a comprehensive plan to fit your needs.

Give us a call or submit a request for a consultation below!

CONTACT US

CLIENT FEEDBACK

Ricky Gonzales provides exceptional service. He exceeded my expectations. Very professional, always on time and available to answer all questions. I highly recommend him!
Kim Dugan
Kim Dugan
Ricky helped me with a Medicare supplement cycle. He was such a pleasure to work with and very caring. I highly recommend him to anyone who has Insurance needs.
Debbie Larsen
Debbie Larsen
Ricky Gonzalez is a blessing. He was referred to me by a co-worker and I have been extremely grateful for his knowledge, experience and sincerity. I’m in my second year leaning on his expertise and without a doubt, I’ll will rely on Ricky/Pinnacle for any future decisions. He is like extended family.
Chris Presley
Chris Presley
Mr. Gonzalez will go out of his way to make sure his customers understand every detail of the medical insurance. That you are signing up for 👍 I will definitely recommend him to anyone looking for a medical insurance.
Nidia Berrios
Nidia Berrios
Every detail related to health is very important. That is why the orientation and help to select the best insurance based on your needs is very important. 100% satisfied with the professionalism and passion that Ricky puts into his work.
Mildred Morales
Mildred Morales
Working with Ricky Gonzalez has been a pleasure. He constantly follows up, meets you at your place of business or home if you need him to. The whole process went smoothly. I would do business with him again.
NC Ranshaw
NC Ranshaw
Rick was very informative and detailed and helped me tremendously to find the right insurance plan. Would highly recommend him and will be using him in the future.
Maura Hertzog
Maura Hertzog

WE ARE YOUR
FINANCIAL SOLUTION

Feel free to connect with us to get started on your plan.

LATEST NEWS

We provide good insights and information on current events, industry & government updates. Check out our news feed and YouTube videos to learn more about how we can help you in the best way.