How Do You KnowIf You Need Life

Insurance?

CREATED BY MARC FIRESTONE

Life insurance is designed to replace lost income or pay forspecial needs your family would have if you weren’t around.

The big questions you need to ask are: Do you need it? And if so,what kind should you get?

Do You Need It?

If you have a spouse, kids, or agingparents who depend on you, life

insurance is a good option toconsider.

If you’re a wage earner, you’llwant to replace your salary plus

provide for any additional needs,such as paying off the mortgage,

college tuition or career trainingfor a spouse who may be

reentering the work force.

Would your working spouse want to takesome time away from the job to be with the

kids after a loss?If so, what would that cost?

If you’re a stay at home parent, look at what it wouldcost to hire help to perform tasks you routinely do?

TO DO LIST:

Pick up kids

Make Dinner

Grocery Shopping

Clean The House

If you’re caring for a family memberwith special needs, what would it

cost to make sure that person isprovided for if you die?

If you’re at or near retirement, how would yourspouses income change if you were around, or

vice versa? If all or most of your pension orretirement savings would be accessible, you

might not need life insurance.