Category: Life Insurance

Life insurance and the amount that you need are very personal matters. What is right for one person might be totally wrong for another. At Kalare Tech in New Windsor, NY, we can help you come up with a figure that will provide the protection you need for your loved ones while being affordable.

How to Figure Out How Much Is Enough

To decide how much life insurance is enough, you must first ask yourself, who depends on my income to live? This is a very important figure. You will need less life insurance if only one person depends on you than if six people are counting on your income. Once you have that figure, you need to consider your income. If you make $250,000, you will need to get more life insurance than if you make $50,000.

The final figure you need is how long you will need to provide support. If your children are infants, you will need to provide support for a long time. Do you anticipate having to provide 100% of the support, or will your partner be working? Do you want to allow a few years at 100% income replacement and then less as the children grow older?

The Final Figure

Okay, now that you have asked yourself the correct questions, you need to take the answers and come up with a figure. Experts estimate that you should have 10 times your annual income in life insurance with another year to provide for their education. If you make $50,000, you should have a minimum of $600,000 in term life insurance for one child and an additional $100,000 for each additional child.

To find out more about life insurance, contact our office at Kalare Tech in New Windsor, NY.

Kalare Tech is an insurance provider that helps New Windsor, NY, residents like you get the protection that makes the most sense for their needs. With our help, you can easily find life insurance, even when you are young. Here’s why buying life insurance now is a smart investment:

Why Buying Young is Smart

There’s no right or wrong time to buy life insurance. Some people think you have to be older to buy one, while others think you should be closer to middle age. Even 20-30-year-olds can thrive with life insurance because it can provide a variety of benefits, including:

• Many Options: When you’re young, more life insurance options are often available, making it easier for you to find one that makes the most sense for your family’s needs.
• Extra Policy Types: Adding extra riders to your policy can protect you from unexpected dangers and provide the unique support that makes the most sense for you.
• Unique Coverage Support: Life insurance policies often offer diverse periods when you’re young, meaning you can get protection for specific times of your life to stay safe.

These benefits make buying life insurance at a young age a wise investment. It protects you and your family and minimizes financial dangers. Life insurance is often available in many bundles and types, meaning finding one that suits you shouldn’t be too hard.

Tell Us What You Need for Your Life Insurance

At Kalare Tech, we help New Windsor, NY, residents like you find the insurance that makes sense for their needs. With our support, finding life insurance that covers you and your family should be easier. So please don’t hesitate to contact us today to learn more about our choices.