14 Sep Life Insurance and Dimes
When you see the heading on this you might be wondering what does Dimes have to do with Life insurance? I have been in the insurance business for about 12 years so I have seen many ways to look at life insurance needs calculators and ways of coming up the that perfect number of what you need. I was taught in first year of selling insurance a method called the Dimes program that I still use and teach to this day. If you want to know what the raw facts are to determine your amount of life insurance I cant think of an easier way than this so read this then contact our insurance agent or my self and tell them you want to talk about Dimes.
Death-How much coverage to you need for your funeral, grave site, and family travel expenses usually around 10-15,000.
Income-What do you want to leave your family and loved ones in the way of income that they will loose in your passing. I like the 3 to 5 times your annual salary to make it simple.
Mortgage-What do you owe your home, business, credit cards, vehicles any debt needs to go into this category so that it is taken care of.
Education-This is if you have children or grand children and you want to leave a set amount per person to help with education cost. This could also cover yours or a spouse current school debt.
Savings-This is if you want some locked in savings you can look at a whole life or universal life amount. Life insurance is still a good savings vehicle in the total estate plan so don’t over look it for stocks that will vary in value from year to year every one needs some permanent life insurance to balance out their portfolio.
That’s it now what are you going to do with this new found Knowledge?