The standard answer to the question above from your average life insurance agent is “everyone”! However, that might not always be true. What is true is, while it may or may not be obvious you need life insurance, there is no magic formula that will let you know the amount of life insurance you need or the kind of life insurance you should be buying.
There are different types of life insurance policies because no one type fits all situations no matter what you may hear on your favorite radio show. Many times we find using different policies for different situations is a better answer than buying one kind and putting all your eggs in that one basket of possibilities. If you think in terms of life insurance as an investment then you understand why you would not put all your money in one place.
So how do you find out what type and how much you need? It’s really easier than you think and requires some time evaluating your past, current and possible future situations. A good example of this is those parents that have adult children that will need care once they are gone. Using life insurance to ensure there will be enough money to care for that child is a very important part of their insurance need. If they only purchase term life insurance and outlive the term then they potentially miss the mark they had for their children.
If they were able to invest and make their money here there is a possibility it will work out. However, as we have seen in the latest economic downturn, many people who are ready to retire have had to put it off due to their portfolio’s under-performing.
This is just one of the many possibilities that arise in everyday life that should be under consideration when looking to purchase life insurance in Nashville. We are here to help you so contact us today for a free consultation.