It’s a question many people ask and there are many answers. The right answer may depend on who is asking the question. Perhaps the simplest way to find the correct answer is to ask who is going to suffer financially from your death, and in what manner? Then, it is simply a matter of putting a financial number to it.

For example, your spouse who may depend on your income for his/her support may answer it with a different number than your business partner would. Your children may come up with a different number than your favorite charity might. The point is, which lives will be impacted financially, and in what amount, by your death. It is not a cut and dry answer, but there are ways to address the question and come up with the correct answer.

At Retirement Planning Resources, we have the experience to help you explore this question in all areas of your life. Whether it is for personal, charitable, business, or for an estate planning need, we can help you discover the correct number and show you how to effectively solve the next question.

What type of life insurance should I buy? With all of the changes in the life insurance industry within the last few years, this is not an easily identifiable answer. However, it needs to be addressed as surely as the question of how much do I need?

Let Retirement Planning Resources help you answer these questions so you can be assured that you have properly covered this risk. This is the protection part of your financial plan as you move into your retirement years. Protect your business, your loved ones, gifting to your favorite charity, and/or covering estate liquidation needs for your beneficiaries. This is absolutely the wrong time of your life to gamble with your life’s work. Insure it and protect it.