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How Much to Buy

Do You Know How Much Life Insurance You Require?

dad1 We analyze a client’s life insurance requirements using either an income replacement method, or a needs fulfillment method, or both. We also combine this with a clients individual budget for life insurance to determine what type, and how much Colorado life insurance the client requires. The income replacement method of a needs analysis is to determine how much life insurance is required if the purpose is to replace the income that your family would require to survive. The needs fulfillment method determines how much life insurance is needed to cover future family needs like paying off debts and mortgages, saving for college, etc.

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{ 2 comments… add one }

  • Mary February 7, 2009, 10:50 am

    I purchased extra to be given to a charity when I die. And it is also there in case I need more later on. Then I won’t have to buy another life insurance policy at a higher price.

  • Evan Povich December 15, 2009, 6:23 pm

    The ‘Needs Fulfillment Method’ is important when applying life insurance needs to the income provider’s unique situation and to the dependents he/she has.

    You do not want to over insure or under insure a client but by taking their budget into mind when providing life insurance for them you are making your service more valuable.

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