Jump to navigation

How Much Life Insurance Do I Need?

from Jacobs Insurance Agency

Life insurance is a crucial step in planning for your future. Not only can life insurance fulfill promises made to your family if you are no longer around, there are several life insurance policies that provide benefits while you are living.

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 a college education or down payment on a home.
  • The growth of a cash-value policy is tax-deferred. You do not pay taxes on the cash value accumulation until you withdraw funds from the policy.
  • Life insurance can be used to cover funeral expenses and pay estate taxes. Consult your tax advisor agent for more information.

Want to find out more about your Life Insurance options?

Get a Life quote And start saving money today!

We can find discounts on life insurance you may not find on your own. Give us a call, or get a life insurance quote online today.

Bookmark our mobile site visit m.jacobsinsurance.com

Information you need, when and where you need it most. More »

Jacobs Insurance Agency, Inc.

Jump to navigation

Our locations:

Owosso, Michigan
989-725-7117
Waterford, Michigan
248-673-6703

Additional navigation:

© 2016 Jacobs Insurance Agency | Privacy Policy