Call Us 217-352-9000 ☰ ˟
Manage Policy File a Claim
Logo
217-352-9000
  • Our Agency
    • AboutImage of right arrow
      • Our Team
      • Our Locations
      • Distracted Driving in Illinois
    • Annual Insurance Review
    • Blog
    • Tax Season FAQs
    • Testimonials
    • In Your 50s?
    • 10 Steps to a Successful Retirement
    • Get A Quote
    • Our Providers
    • Claims
    • Pay a Bill
    • Contact UsImage of right arrow
      • Champaign Office
      • Newman Office
      • Paxton Office
      • Rantoul Office
  • Quotes
  • Products
    • Home & Auto Insurance
    • Auto InsuranceImage of right arrow
      • Liability Coverage
      • Comprehensive Coverage
      • Collision Coverage
      • Uninsured & Underinsured Motorist Coverage
      • Diminishing Deductible
      • Accident Forgiveness
      • Minor Violation Forgiveness
      • Roadside Assistance
      • Specialty Auto Insurance
      • 24-Hour Customer Service
      • Towing
      • Rental Reimbursement
      • Personal Injury Protection (PIP)
      • Medical Payments Coverage
    • Home InsuranceImage of right arrow
      • Property Insurance
      • Homeowners Liability
      • Renters Insurance
      • Condo Insurance
      • Condo Association Insurance
      • Earthquake Insurance
      • Mobile Home Insurance
      • Scheduled Property Insurance
      • Landlords Insurance
      • In-Home Business Insurance
    • Other Personal InsuranceImage of right arrow
      • Identity Theft
      • Jewelry Insurance
      • Pet Insurance
      • Personal Umbrella Insurance
      • Data Backup
      • Travel Insurance
    • Farm InsuranceImage of right arrow
      • Crop Insurance
      • Farm Owners Insurance
      • Farm Livestock Insurance
      • Equine Insurance
      • Farm Equipment Insurance
      • Farm Dwelling Insurance
      • Farm Structures Insurance
      • Farm Auto Insurance
      • Farm Umbrella Insurance
      • Farm Liability Insurance
    • Life InsuranceImage of right arrow
      • Individual Life Insurance
      • Group Life Insurance
      • Long-Term Care Insurance
      • Mortgage Protection Insurance
      • Disability Insurance
      • Second-To-Die Policy
      • Key Person (Key Men) Insurance
    • Health InsuranceImage of right arrow
      • Individual & Family Health Insurance
      • Group Health Insurance
      • Dental Coverage
      • Vision Coverage
      • Long-Term Care Insurance
      • Temporary Health Insurance
      • Supplemental Insurance
      • Disability Insurance
      • Medical Expense Insurance
      • Child Health Insurance
      • Travel Health Insurance
      • Prescription Insurance
      • HSA
    • Recreational Vehicle InsuranceImage of right arrow
      • Boat Insurance
      • Motorcycle Insurance
      • Motorhome Insurance
      • ATV Insurance
      • Snowmobile Insurance
    • Additional Insurance ServicesImage of right arrow
      • Special Event Insurance
      • Other Services
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance
      • Alarm Contractors Insurance
      • Insurance for Arborists
      • Builders Risk Insurance
      • Construction Insurance
      • Consulting Firm Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Educational Facility Insurance
      • Financial Institution Insurance
      • Funeral Home Insurance
      • Convenience Store and Gas Station Insurance
      • Healthcare Facility Insurance
      • Healthcare Practice Insurance
      • Law Firm Insurance
      • Life Science Insurance
      • Limousine Services Insurance
      • Livestock Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Maritime Employers Insurance
      • Media & Advertising Insurance
      • Orthotics & Prosthetics Insurance
      • Personal Trainer Insurance
      • Pool & Spa Insurance
      • Printers & Publishers Insurance
      • Railroad Contractors Insurance
      • Real Estate Businesses Insurance
      • Restaurant Insurance
      • Retail Insurance
      • School Bus Contractors Insurance
      • Scrap Metal Insurance
      • Security Guards Insurance
      • Self-Storage Insurance
      • Septic Contractors Insurance
      • Snow Plow Insurance
      • Specialized Truck Equipment Insurance
      • Technology Services Insurance
      • Tow Trucks Insurance
      • Vineyard & Winery Insurance
      • Water Well Drillers Insurance
    • Coverage for Your BusinessImage of right arrow
      • Leave Management
      • Loss Control Insurance
      • Marine Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Cyber Lyability
      • Inland Marine Insurance
      • Professional Liability
      • Workers Compensation
      • Bonds
      • Fidelity Bonds
      • Surety Bonds
    • Coverage for Your EmployeesImage of right arrow
      • Group Benefits
      • Group Disability Insurance
      • Voluntary Benefits
      • Retiree Health Coverage
      • Group Health Insurance
      • Disability Insurance
      • Individual Life Insurance
  • Contact Us
    • Champaign Office
    • Newman Office
    • Paxton Office
    • Rantoul Office
    • Locations & Hours
    • Get A Quote
  • Client Party
Auto Icon Home Icon Business Icon Life Icon Health Icon Boat Icon Farm Icon
Home > Blog > How Much Life Insurance Do I Need?
FRIDAY, OCTOBER 7, 2022

How Much Life Insurance Do I Need?

It's never a pleasant thing to think about how your death will affect your family, but it's a necessary step in making sure they are provided for if the worst were to happen. One of the decisions that you need to make is the size of your life insurance policy. How do you know how much insurance you need? It's a bit complicated and there isn't one answer that is right for everybody, but here are some things to consider. couple with friends

If you have significant savings, no children and a spouse that also works, you may not need as much coverage as someone with young children. Use your independent insurance agent as a resource when deciding on your coverage limits and keep the following points in mind. 

  • Do you have debt? You may want to add enough to cover all your debt so that won't be a burden on your family. 
  • Are you the sole income earner for the family? If your family has no other source of income, it's a good idea to make sure they can continue their current lifestyle without making any changes for at least a while, especially if children are young. 
  • Do you have children that will be attending college in the future? Life insurance is a way to ensure that their education is taken care of, even if you're not around to see them graduate. 
  • Do you have any retirement savings or a pension fund that a spouse will have access to? If not, then you may need to bump up your life insurance to provide for your family. 

There are many factors to consider when deciding on life insurance, but don't let it overwhelm you to the point where you do nothing. Contact your insurance agent to talk it over and decide on a policy that is right for you and your family. 

Posted 4:54 PM

Tags: life insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021

  • health insurance(4)
  • life insurance(4)
  • farm insurance(4)
  • business insurance(3)
  • auto insurance(3)
  • homeowners insurance(2)
  • home insurance(2)
  • insurance(1)

View Mobile Version
Facebook
Get Directions
Contact Us Today
Message Us
Resources
Products
Customer Service
Payment Options
Report a Claim
News
About Us
Refer A Friend
Our Carriers
Blog
Contact Us
Our Locations Champaign Office: 217-352-9000
Rantoul Office: 217-892-9200
Newman Office: 217-837-2713
© Copyright. All rights reserved. Powered by Insurance Website Builder.