While driving my son to school I always hear this radio ad saying that you need 10X’s your income in life insurance. I understand that a 30-60 second radio ad cannot go into too much detail about a potentially complex issue. then again, I am sure there are many insurance agents who don’t want to waste too much time with a prospect and just tell them to buy 10X’s their income. This would especially be true if you are doing this with a call center. as a former phone monkey, I know that those phone representatives have to be very efficient with their time.

Any way, many variables need to be factored when determining the right amount of insurance required. Marriage, kids, Social Security Survivor benefits, present savings, will the surviving spouse work etc. Whenever you are approached to buy insurance from anyone make sure that you have a capital needs and principle preservation analyses done. they should not take too long to complete and should ensure that you have the right amount of insurance tailored to your needs and not some cookie-cutter formula.

Life Insurance Needs