Personal Insurance, Life Insurance

Life Insurance Planning Checklist

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Life insurance is an important and helpful preparation for the unexpected. The right policy can help ensure a secure financial future for your loved ones. It can help cover your family’s daily living expenses and help them maintain their standard of living in the event of an untimely death.

But do you know how much life insurance you need? What future expenses should you be planning to cover? According to recent studies, 52% of American adults have life insurance, yet 41% of adults — both insured and uninsured — say they don’t have sufficient life insurance coverage.

44% of American households would encounter significant financial difficulties within six months if they lost the primary wage earner in the family, and 28% would reach this point in only a month.

Purchasing life insurance or updating your current policy with new limits can be a simple process, but you need to know how much insurance to purchase. Our life insurance planning checklist will walk you through a few simple steps to help you determine how much insurance you need. While individual circumstances will vary, this checklist will give you a basic idea of your needs.

Download our Life Insurance Planning Checklist »

Learn more about life insurance in these articles:

Life Insurance: The Greatest Gift
What You Need to Know About Life Insurance
Does Uninsurable Really Mean Uninsurable?

 

References:
https://www.limra.com/en/newsroom/news-releases/2023/new-study-shows-interest-in-life-insurance-at-all-time-high-in-2023/
https://www.forbes.com/advisor/life-insurance/life-insurance-statistics/

 

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