Your life insurance needs will depend on a number of factors including:
- Size of your family
- Nature of your financial obligations
- Career stage
- Current age
Here are some questions that can help you start thinking about the amount of life insurance you need:
- What immediate financial expenses (e.g. debt repayment, funeral expenses) would your family face upon your death?
- How much of your salary is devoted to current expenses and future needs?
- How long would your dependents need support if you were to die tomorrow?
- How much money would you want to leave for special situations upon your death, such as funding for your children’s education, gifts to charities, or an inheritance for your children?
- What other assets or insurance policies do you have?
- If you were to remove a primary source of income, would you be able to continue paying large bills such as day care, mortgage or college tuition?
- Do you own a small business?
Contact one of our CFS* Wealth Management professionals today at 303.443.4672 ext. 2240
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