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How Much Life Insurance Do I Need? The Question… - “How much life insurance?” is a question every person must answer individually, based upon a number of circumstances:
- What debts will I leave for my family to pay?
- How much will my final expenses be – medical expenses, hospital bills, funeral costs, etc.?
- Is there a mortgage to pay off if I die?
- Do I want to provide funds for continuing mortgage or rent payments?
- Do I want to provide an education fund for my children?
- Should I accumulate an emergency fund?
- What ongoing income needs will my family have?
- Where’s the money for all this going to come from?
- How will Social Security help if I die prematurely?
- How much life insurance do I already have?
- Is it term or permanent insurance?
Cash Needs... Making Adjustments... The Human Life Value Approach...The Bottom Line...
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