Do I Need Life Insurance?

Most people should have life insurance that will help meet their financial obligations in the event of death. Consider these questions to help you determine your need for life insurance.

  • Do You Have A Spouse Who Depends In Whole Or Partly On The Income You Earn? Even though both of you are employed, most likely it takes the income both of you earn to maintain your home and your lifestyle.
  • Do You Have Children? If something happened to you, would your spouse still be able to provide for your children’s home and education? This question is even more important to consider if you’re a single parent as your children are even more dependent on you for their welfare.
  • Are You Retired? Even though you are retired, you still have financial responsibilities and need to maintain a home for yourself and your spouse. Social Security or an individual’s retirement income may not be sufficient to support your surviving spouse for his or her remaining life span.
  • Are You A Business Owner Or Partner? The death of a business owner or partner can be devastating to the business. The arrangements you make for the survival of your business should include consideration of the costs for your family to maintain the business until a decision is made about selling the business or merging with another. If you are an owner partner, life insurance proceeds will allow the surviving partners to buy out your share of the business and make arrangements for continued operation of the business.
  • Do You Have Other Financial Obligations? You may not have a spouse or dependent children, but if you are making payments on property you own, credit cards, or loans, you should consider life insurance that will pay off your financial obligations in the event of your death. You should also consider the potential cost of final medical expenses and funeral arrangements so your family is not left with these financial obligations.

Whatever financial needs you have identified, your Schultheis Insurance Agent can help you obtain the coverage you need to protect your family and others who depend on you. Call today to set up an appointment.