How Much Life Insurance is Enough?
11/3/2015 4:33 PM
How much life insurance is
right for you?
Serving the Chicagoland area Merit Insurance Group based
in Tinley Park, IL understands the life insurance needs of our customers.
The necessity of life insurance depends on your own
personal and financial needs. At Merit Insurance Group we assist and help you
determine the type and amount of life insurance that is appropriate for you and
your family. Generally, you should consider life insurance if:
- You have a spouse
- You have dependent
- You have an aging
parent or a physically challenged relative who depends on you for support
- Your retirement savings
are not enough to insure your spouse’s future against a rising cost of
- You have a sizable
- You own a business
- Additional benefits of
life insurance other than providing for your loved ones, in case something
happens to you include:
- The cash value earned
and borrowed from a permanent life insurance policy can be used to help
with large expenses, such as a college education or down payment on a
- The growth of a
cash-value policy is tax-deferred — you do not pay taxes on the cash value
accumulation until you withdraw funds from the policy.
insurance can be used to cover funeral expenses and pay estate taxes — consult
your tax advisor, for more information.
The right coverage for you is unique – talk to us today at Merit
Insurance Group: 708-845-5466, and
find out how to protect your family and your future with the right life