Buying life insurance in most cases is an act of love. It is purchased to offer protection to those who depend on you. If something should happen to you, the people who count on your income would be in a difficult situation. Life insurance can help to not only bridge the difficult time immediately after your passing but offer support into the future if that is necessary. Determining how much life insurance is enough takes a lot of thought and planning. Having an insurance agent you know and trust can go a long way toward helping make this decision easier.  At Premier Group Insurance in Lakewood, CO, we are an independent agency that works for you, not an insurance company. We put your needs first. 

If you are single, have no dependents and no debt, a minimum amount of life insurance will probably do. You need to pay for your final expenses and that is enough unless you want to leave a legacy to someone in particular. If you have a dependent then you need to add more and it is never a good thing to leave your loved ones with any debt you might have. 

Once you get to the point where you have a spouse or partner, children, a mortgage, and credit card debt, you need to be thinking a little more seriously about the dollar amount of life insurance you have. Experts recommend that you have between seven and ten times your annual income in life insurance. If you make $100.000 that is $700,000 to $1,000,000. You probably have some insurance provided by your employer but you need to protect yourself with insurance that won’t stop if you leave your job. 

If it’s time to reacess your life insurance at Premier Group Insurance in Lakewood, CO we are ready to sit down with you and make sure you have the insurance you need at a price you can afford. Call our office to set up an appointment or stop by for a free quote.