Life Insurance – Amount

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M Scripture is clear that families provide for their own members, I Timothy 5:8. A valuable resource is life insurance.  Term, whole, variable, how do you determine what is right for you, your family, your season of life?

V What protection do you need? Consider these three categories. Final expenses like Burial or cremation. It can be $5,000 to $10,000 or more. And Final illness or existing debts like Mortgage, car payments, and credit card debt

Income replacement:  most families are dual income families.  What is needed to compensate for that loss? The most cost-efficient life insurance is term that can be modified in life’s seasons.

M On line tools can help you calculate needs.  Do you love your family?  Of course.  Then make adequate provision.