Determining Your Need

The need for life insurance is dependent on your own personal and financial needs.  We can assist you in determining what type and amount of life insurance is appropriate for you.  Generally, you should consider life insurance if:  

  • You have a spouse
  • You have dependent children
  • You have an aging parent or a physically challenged relative who depends on you for support
  • Your retirement savings are not enough to insure your spouse’s future against a rising cost of living.
  • You have a sizable estate
  • You own a business  

There are benefits of life insurance other than providing for your loved ones in case something happens to you:  

  • The cash value earned and borrowed from a permanent life insurance policy can be used to help with large expenses, such as college education or a down payment on a home.
  • The growth of a cash value policy is tax deferred.  You do not pay taxes on the cash accumulation until you withdraw funds from the policy.
  • Life insurance can be used to cover funeral expenses and pay estate taxes.  Consult with your tax advisor for more details.  


Your need for life insurance is dependent on your personal and financial needs. As your life changes, your life insurance coverage may need to change as well to adapt to your current needs.  Some life changes that may require a policy checkup are:  

  • You recently married or divorced
  • You have a new child or grandchild
  • You are providing care or financial assistance to a parent
  • You recently purchased a new home
  • You are planning for a child or grandchild’s education
  • You are concerned about your retirement income
  • You have refinanced your home mortgage within the last few years
  • You or your spouse recently received an inheritance