If you have a spouse or children that depend on your paycheck, then yes, you need life insurance (with very few exceptions). It’s simple – you have a paycheck from your job. When you die, that paycheck stops. If your surviving family would have a tough time maintaining their lifestyle, keeping the house, keeping the kids in the same schools, then you should get life insurance. This isn’t about leaving your family “rich.”
These are a few trigger events that should prompt you to look into life insurance:
- Getting married
- Buying a new home
- Having a child
- Changing jobs
- Getting divorced
- Starting a business
- Adding a partner to a business
A 30-year old earning $66,000/year will earn $2 million over the next 30 years, not counting inflation (with inflation, it’s much more). If you die now, that $2 million will never happen. Life insurance is the only way to recreate your paycheck and provide for your family.
Call Tom Manno at 630.242.3332 or email tmanno@mgfs.net to schedule a meeting to discuss life insurance. Don’t procrastinate. Your family depends on you.