There are two variables to consider:
- How much would it cost to meet the actual burial obligations? – The amount must cover all final expenses, uncovered medical bills, funeral and estate-settling costs, outstanding debts, mortgage balances and education, to name a few.
- How much will it cost to sustain your family’s way of life? – This is the number you’ll expect after you calculate the “present value” of the current cash flow. The result is the amount your family will receive after you pass away.
Life insurance is indeed a necessity for every household. If you’re interested in speaking with a professional about the right coverage for your family or to get rates give our agency a call today.