Insurance Needs Analysis

How Much Insurance Do You Need?

Knowing the right amount of insurance for you is a BIG piece of the puzzle

When trying to determin ho much insurance is enough coverage for you, the best way to analyze your needs is by completing an Insurance Needs Analysis.  You will avoid picking round numbers out of the air that seem large enough, but in reality could leave your family seriously under insured. Insuring your major debts is always a good idea, like you mortgage, but you are worth so much more to you family than a paid off house.

What is your most valuable asset?

If you answered your house -- you would be wrong! The correct answer is YOU.  Lets do a simple Calgary based example. Let’s say you own a home that is worth $450,000 and you owe $250,000 on it.  Looks like you have an asset worth almost half a million dollars and equity of $200,000. Now lets look at YOU. Let’s say you are 40 years old, working for $75,000 per year. If you worked for another 25 years, until age 65, and your income rose by 2% per year, you will have earned $2,525,000 by age 65. Now what is worth more -- your house or YOU?

Protecting your loved ones from the devastating financial loss of losing your income is the most important part of a Life Insurance Financial Needs Analysis. Life Guard Insurance has provided you with 3 planning tools. These calculators will help you evaluate your need for life insurance, disability insurance and critical illness insurance.

Life Insurance Needs Analysis How Much Life Insurance Do You Need?

Disability Insurance Needs Analysis How Much Disability Insurance Do You Need?

Critical Illness Insurance Needs Analysis How Much Critical Illness Insurance Do You Need?

Relevant Articles

• 3 Things To Know About Life Insurance Needs
• How do you get good, honest advice when buying life insurance in Calgary?
• Have You Reviewed Your Insurance Coverage During Key Life Events?

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