A Level-One agent with State Farm, John Urchak provides free quotes on renters insurance, homeowners insurance, and auto insurance, seeking good driver discounts and student discounts for customers to lower their rates. John Urchak also helps clients choose life insurance options aligned with their long-term financial goals.
Any working person with a family should consider life insurance an essential aspect of their financial planning. How much life insurance is the appropriate amount? Life insurance calculation should consider specific family situations. Age is one factor.
A 30-year old with several young children will need more life insurance than an older working adult with grown children. In addition to the children’s ages, consider the ratio of spouses’ incomes. If one person earns 80 percent of the family income, his or her insurance needs are greater.
Similarly, what are the family’s long-term financial goals? Do the parents want to fully fund their children’s college educations? Consider any debts that will need to be paid in case of death. While debts such as student loans will be canceled, the estate must settle a mortgage. Working with a trusted insurance agent can help individuals choose a plan that reflects their unique financial circumstances.
John Urchak 