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But how much life insurance do you need, hmm? To determine how much life insurance
you need today you may need to factor in the rate at which your insurance money will
grow.
Your family's expenses will occur over a long period of time. Often, a life insurance
policy’s payout is made immediately in a lump sum. Typically the proceeds are placed
in a savings account that earns interest. You
can reduce your anticipated need for insurance by assuming that the proceeds will grow at
a higher rate over time.
Here's how it works: the life insurance policy's payout appreciates by earning interest
over time, while also providing your family with the income they need. Once we have
factored in appreciation we come up with the total amount of life insurance that you need
today. With life insurance you could provide your family with the money that they are
going to need long term. In the event that something were to happen to you, life insurance
could be the final love letter to your family.
By working with a life insurance agent at Matrix Direct, you can help make sure that
you have enough life insurance for your family.
Contact a life insurance agent or use the Life Insurance Calculator to find out how
much life insurance you need.