We spend a lot of time talking about how much life insurance costs,but there’s another dollar value that’s even more important to consider: The amount your bereaved family members will receive. Is it enough to support them? Is it sustainable? These are the few of the many questions every policyholder needs to ask.
- How much would it cost to meet the actual burial obligations? – The amount must cover all final expenses, uncovered medical bills, funeral and estate-settling costs, outstanding debts, mortgage balances and education, to name a few.
- How much will it cost to sustain your family’s way of life? – This is the number you’ll expect after you calculate the “present value” of the current cash flow. The result is the amount your family will receive after you pass away.
There’s a great tool below that you can use to get a ballpark figure on how much your family will need. Just follow the instructions carefully.
Life insurance is indeed a necessity for every household. If you’re interested in speaking with a professional about the right life insurance coverage for your family or to get rates give our agency a call today at (407) 878-7979.
At Sungate Insurance, we aim to provide comprehensive insurance policies that makes your life easier. You can get more information about our products and services by calling our agency at (407) 878-7979. Get your free quote today by clicking here.
Serving national and local clients in Orlando, Lake Mary, Longwood, Heathrow, and greater Central Florida communities.