If you are beginning or building your life insurance program and live in the Columbia, SC, area, the Michael Taylor Agency can help.

One of the first questions those in our community ask is, "How much life insurance do they need?" or “Do I need a million dollars in life insurance protection?"

The answer may lie in what you want your life insurance to do.

Cover final expense.

Yes, funeral expenses can be expensive, but it will not take a million dollars in protection to cover. If you are just interested in burial expenses, $15,000 may be sufficient.

Cover debts.

Many purchase life insurance to cover any debts they may be leaving behind. These often include credit cards, personal debts, and even medical expenses.

Mortgage coverage.

If you have a significant mortgage on your home, you may want to ensure your life insurance suffices to pay it off. This can also help a family maintain their lifestyle.

Living expenses.

When choosing how much life insurance you should need, you may want to consider enough to cover living expenses for an extended period. This can allow a family to transition after a death.

College and future expenses.

When you add in college and future expenses for bringing up a child, you can see how an insured could want a million dollars or more in protection.

Contact the Michael Taylor Agency for Help.

You may not need a million dollars worth of life insurance protection. Still, when you add up burial expenses, personal and medical debts, childcare, mortgages, and college, you can see where it would be beneficial. The point is that it may depend on you and your goals and budget. Reach out to us at Michael Taylor Agency in Columbia, SC.

We can discuss your options. Reach out to us for your free quote today.