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How much life insurance should an individual have?

4/25/2016

 
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Rough "rules of thumb" suggest an amount of life insurance equal to 10 to 12 times annual earnings.


​However, many factors should be taken into account in determining a more precise estimate of the amount of life insurance needed.

It is recommended that a person's insurance advisor be contacted for a precise calculation of how much life insurance is needed. 
Important factors include:
  • Amount and duration of income needed to be replaced
  • Current assets and liabilities
  • Age of children and any special needs
  • Current insurance policies and benefits
  • Whether any special life insurance needs exist (e.g., mortgage repayment, education fund, estate planning need), etc.
  • Business obligations 
Bill Zimmer is a specialist in income replacement, estate planning, and business continuation. Contact him for an independent insurance review. 
Take me to Bill Zimmer's contact
Jery link
1/25/2021 08:30:51 pm

Good reaad


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  • Home
    • News
  • Contact
    • Client Testimonials
  • About
    • Our team >
      • Christi Whalen
      • William T. Zimmer
      • Greg Zimmer
      • Dave Hinkley
      • Carla Stauffer
      • Alex Zimmer
      • Jodi Newman-Schliefert
      • Betty Piper
      • Blake Sears
      • Karen Brhel
      • Shauna Randall
      • Shannon Aikman
      • Shannon White-Michener
    • Our Partners
  • Services
    • Personal Insurance >
      • Auto Insurance
      • Motorcycle Insurance
      • Homeowners Insurance
      • Renters/Condo Insurance
      • Personal Watercraft
      • Umbrella Insurance
    • Commercial Insurance >
      • Property Insurance
      • Business General Liability
      • Business Auto
      • Worker's Compensation
    • Life Insurance
    • Health Insurance
    • Retirement Plans
    • Group Insurance
  • Payments/Claims
  • Blog
  • Insurance 101
  • Legal Statements
  • Holiday Closing Schedule