| Life Insurance The amount of life insurance you need will depend on how much money will be needed after your death to meet your immediate obligations and how much income will be required to sustain your family.  The
most common way to determine your life insurance needs is by conducting
what's called a Financial Needs Analysis. Start by evaluating your family's
needs. Estimate what each of your family members would need to meet
current and future financial obligations. Then tally up all of the resources
that your surviving family members could draw upon to support themselves.
The difference between their needs and the resources in place to meet
those needs is the amount of life insurance you need. The actual calculation
can get complicated because you need to factor in the effects of inflation
and assumptions about how much your investments will earn over the long
run.There is a variety of life insurance products; some paying a death benefit only, others paying lifelong protection. RESOURCE—LIFE INSURANCE |
