What you need to know about Life insurance

I have noticed there are several posts regarding different types of insurance and questions regarding current policies.  I will start posting here somewhat regularly regarding these issues to give you the information you need.

Life insurance is a simple answer to a very difficult question: How will my family manage financially when I die?  It's a subject no one really wants to talk about.  But if someone depends on you financially, it's one you cannot avoid.

Raising a child is arguably the most rewarding thing a person can do in life.  But it's also one of the most expensive.  If you died tomorrow, would your spouse have the financial wherewithal to provide your children with the opportunities you always dreamed they'd have?  From diapers to diplomas, would there be enough income to pay for day care, a college education, and everything in between?  

 Common excuses that shouldn't stop you from getting the coverage you need:

1) "It's too expensive."  - Simply put, not having any or enough life coverage could be more costly to your family and if you use an Insurance Broker you can see rates from several different companies.

2) "I haven't gotten around to it." - There are no guarantees in life, so don't procrastinate.

3) "The coverage I have through my employer is sufficient." - Typically, employers provide a modest amount of coverage, and you can't take it with you when you leave your job.

4) "I worry about making the wrong decision." - A qualified insurance professional can answer all our questions and guide you through the process.

The toughest part of buying life insurance is determining how much you need.  Since everyone's financial circumstances and goals are different, there is no rule of thumb that can tell you with any precision how much to buy. The best way to determine your life insurance needs is to have an insurance professional conduct what's called a Financial Needs Analysis.

I will be happy to answer any questions in this thread.  If you have a personal or very specific question please PM me that query