How much life insurance do I need?

Question

I believe in planning things out ahead of time.I still have that notebook of goals I wrote last year.I know things don't always go according to plans and that I have to just live life and take chances because I might grow.

But I also have to unfortunately plan for what if something happens to me.Due to the increase of bad things I'm reading about happening to girls and young females, I am worried about funeral costs.All these girls and young adult females are being targeted and found dead.I don't want to leave any expenses behind if one of these crazed maniacs should get me or if something else happens. I want to live until I'm in my 100s, but even one of my senior residents at the home I work at said "you might not make it to my age.All this crazy stuff happening to your generation out here.You all will be lucky to make it to my age." She's 84. And what she said is scary but true.

I want a purple chiffon lined casket.How much life insurance will I need?

Answer 1

Have a professional LOCAL agent do a Financial Need Analysis (FNA) for you. There is no charge for the service, but you'll learn a lot, and know exactly how much life insurance you need, to meet your personal goals and desires.

The FNA will also help you determine if you need disability income protection, and a retirement plan.

The chances of being disabled before age 65 are greater than dying before age 65. This will provide an income if you are sick or injured and can't work.

The retirement is very important if you don't have one already set up. Because all that will be there, when you get there, is what you send on ahead.

Answer 2

To determine how much you need, come up with an amount needed to pay for the entire funeral....besides the casket, there is a plot, service, preparation fees,etc. If you have any debt, include that as well. Yes, you can prepay your funeral. Go to a funeral home, and they will guide you through the process.