paralysis by analysis?

One of the most common objections I get when talking to people about life insurance is “I just haven’t had time to think about how much coverage I need.”

These customers admit they need more coverage but don’t know exactly how much they need. Instead of acting, they wait (and wait some more) to buy because they don’t want to buy too much, or too little.paralysis

In most cases, you can just ask yourself 2 questions to determine a close estimate of how much coverage you need.

1) How much capital would my family need to meet immediate obligations?

2) How much future income is needed to sustain the household?

When it comes to purchasing life insurance, the old saying “inaction is often worse than wrong action” is definitely true!

There are numerous life insurance calculators out there; I like this one. If you know you need more coverage, but aren’t sure how much, I encourage you to use one of these calculators, get an idea of your need, and ask your life insurance advisor if that number is a good start. I’d bet you’ll be surprised how cheap you can get that coverage (most people overestimate the cost of life insurance by 2x). If you’d like to meet with me about your current life insurance need, please call or email and I’d be happy to discuss the 1st steps in getting the right coverage.


Clayton Rhoads

The Rhoads Group, INC.

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