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Patrick Cooke
Agent with Farmers
MN License# 20145448
MN License# 20145448
| Contact us: 218.879.6500 800.988.6550 pcooke@farmersagent.com |
PATRICK COOKE AGENCY
| How Much Life Insurance Do I Need? |
There's no doubt that Life insurance provides a sense of
financial security. "If all else fails," you think, "at least I'm
covered." But determining the amount of Life insurance you
need depends on a number of variables: your marital status,
current income, (projected) future income, number of
dependents, value of your assets, and your preferred lifestyle in
general.
A common rule of thumb is that your Life insurance benefit
should equal 5-10 times your current income. But there's no
one answer: if you're older, and your mortgage is paid off, you
may not need as much Life insurance as a new homeowner.
On the other hand, if you're single and have no children, you
may not need a policy in addition to the one available at your job.
Keep in mind that until that Life insurance benefit is paid out,
you are paying a monthly premium. That's why it's important to
research your options and contact our agency to help you
determine the best policy options for your situation. Farmers®
offers a wide variety of term and permanent Life insurance
coverage, with a range of premium levels to choose from.
Products and features may not be available in all states and
may vary by state.
Life insurance issued by Farmers New World Life Insurance
Company, Mercer Island WA 98040.
financial security. "If all else fails," you think, "at least I'm
covered." But determining the amount of Life insurance you
need depends on a number of variables: your marital status,
current income, (projected) future income, number of
dependents, value of your assets, and your preferred lifestyle in
general.
A common rule of thumb is that your Life insurance benefit
should equal 5-10 times your current income. But there's no
one answer: if you're older, and your mortgage is paid off, you
may not need as much Life insurance as a new homeowner.
On the other hand, if you're single and have no children, you
may not need a policy in addition to the one available at your job.
Keep in mind that until that Life insurance benefit is paid out,
you are paying a monthly premium. That's why it's important to
research your options and contact our agency to help you
determine the best policy options for your situation. Farmers®
offers a wide variety of term and permanent Life insurance
coverage, with a range of premium levels to choose from.
Products and features may not be available in all states and
may vary by state.
Life insurance issued by Farmers New World Life Insurance
Company, Mercer Island WA 98040.