Life Insurance

Life Insurance protects your financial resources against the uncertainties of life so you can plan for the future. Choosing a life insurance product is an important decision, but it can be complicated. As with any major purchase, it is important that you understand your needs and the options available to you.

Why do I need life insurance? The main purpose of life insurance is to provide cash to your family after you die.  The money  your dependents will receive (the "death  benefit") is an important financial resource: It can help  pay the mortgage, run the  household, and ensure that  your dependents aren't burdened with debt.

Prudential Insurance, Metropolitan Life Insurance Company and New York Life Insurance Company are the biggest in the insurance business.

How do I begin to get a Life Insurance Quote?

Start by evaluating your family's  needs. Gather all your personal financial information and estimate what your family will need after you're gone.  Include ongoing expenses (such as day care, tuition or retirement)  and immediate expenses at the time of death  (like medical bills, burial costs, and estate taxes).

Your  family also may need  funds to help them readjust… perhaps to finance a move, or pay expenses while job hunting. Remember, life insurance  provides financial protection. If protection is not your primary goal, you  should consider other financial products.  How much life insurance will I need to purchase?  While there's no substitute for evaluating needs, one  rule of thumb is to buy life  insurance equal to five to seven times your annual gross income.