We all know life insurance companies make plenty of money and you’re probably thinking “Why the #$@&% would I make someone richer!?” – we get it. So, how can you actually win this game? What are the life insurance secrets?
Well, spend some minutes with Byron – our life insurance veteran – and learn the secrets that most life insurance companies don’t want you to know.
Boom! Mind blown right!? Who would’ve thought that when they win you lose and when you win, they lose?
Now use our nifty calculator and figure out about how much coverage you need to keep your loved ones off the street – ’cause this is how you really win. Right?
Nifty Life Insurance Calculator
Our Life Insurance Calculator can help you get a rough idea of how much coverage you’ll need to make sure your family is okay financially when you die.
Annual income before tax: $Annual income is an important factor in determining your needs, but it’s not the only one. When you die, your life insurance is like your final paycheck.
% of income needed by dependents: %Because you’ll be gone, presumably they won’t need as much as you’re currently earning. Typically, 80% of your current income is a good place to start.
Your Age: yearsThe younger you are, the more years of your income your family stands to lose when you die.
Number of years benefits are needed:If you died tomorrow, how many years of income do you want to provide for your family?
Annual inflation rate (estimate): %Because of inflation, in order to maintain your family’s current standard of living, you’ll need to plan for increases in their annual income to keep pace. Historically, inflation has averaged between 2% and 4%.
Annual interest rate (estimate): %This is an assumption as to how much you believe your spouse will be able to earn on the death benefit proceeds. We have found that most surviving spouses are usually very conservative in how they invest the death benefit. The most common thing we see is that the money gets deposited into a bank account. You know your spouse better than anyone. Pick a number that you feel your spouse will be able to comfortably earn on the proceeds.
Good for you! You’ve taken the first step in keeping your family safe. So what’s next? You might consider calling 877-794-9817 today so we can help you figure out what kind of policy makes the most sense for you.