If you provide an income for yourself or your family, the value of your own life
is your most important asset. Having inadequate insurance protection undermines
the financial foundation of everything you do—from building your career to raising
your family.
How much insurance do you need?
Not everyone requires the same amount. Family situations, goals, debt, and income
are often used to estimate life insurance amounts. The chart below can help clarify
your life insurance needs in terms of the salary of a primary income earner.
|
Living Style
|
Income Factor
|
- Low mortgage or rent payments
- No children living at home
- Low level of debt
- May have elderly parents to care for
|
1x to 3x annual salary
|
- Low mortgage or rent payments
- No children living at home
- Low level of debt
- Surviving spouse will work
|
3x to 5x annual salary
|
- Moderate mortgage payment
- Good amount of savings
- Surviving spouse will work
|
5x to 7x annual salary
|
- Young children
- New home
- Mortgage payment is a significant expense
- Surviving spouse wants choice of not working
|
7x to 9x annual salary
|
Examine Your Coverage
Maybe you have life insurance. But has it been a while since you’ve thought about
it? This is a good time to reexamine the protection it offers. Ask yourself:
- Have you had a change in income, financial responsibilities, or goals?
- Has your family changed in make-up or size?
- Have you purchased a new home or business?
- Are you providing greater financial help to aging parents or other relatives?
- Has your current coverage kept up with the effect of inflation?
- Is your coverage the standard provided by your employer?
We invite you to talk with your investment executive for information that can help
you protect the assets you have worked hard to achieve—and the people in your life
who are important to you.
- Advisory services may only be offered by Investment Adviser Representatives in connection with an appropriate PRIMEVEST Advisory Services Agreement and disclosure brochure as provided.
- Securities and insurance products are offered through PRIMEVEST® Financial Services, Inc., a registered broker-dealer, licensed insurance agency, and registered investment adviser, member FINRA & SIPC. PRIMEVEST is not affiliated with Susquehanna Bancshares, Inc. or its related companies.
- Susquehanna Wealth Strategies is a marketing name for PRIMEVEST® which offers investment products at Susquehanna Bank locations.
Securities and Insurance Products Are:
• Not FDIC Insured • May Lose Value • Not Bank
Guaranteed
• Not a Deposit • Not Insured by any Federal Government Entity |