Estate Planning:Life Insurance

Do You Have Enough Life Insurance?

At Woodberry Wealth Management & Associates, we provide a well-rounded approach to estate planning. One of the most important facets of estate planning is obtaining the necessary amount of life insurance. If you have questions about buying life insurance, our team of certified New York life insurance brokers are here to help.
The first thing we will determine is the amount of life insurance you need. To determine how much life insurance is necessary, you need to answer a few questions to get you thinking about why you are purchasing life insurance in the first place.

  • Are you buying life insurance in order for your family to replace the income lost by your death?
  • Are you buying life insurance as a way to save money for your own retirement, while having death benefits for your family members?
  • Will there be a need for immediate cash upon your death to pay debts and taxes?
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Once you know why you need the insurance, you can determine the amount and type of life insurance you need. The general rule of thumb is to have ten times your current income in the form of life insurance coverage, and that’s only if your purpose is to replace your income for your family.

Types of Life Insurance Policies

We provide insurance counseling services and expertise for all kinds of life insurance policies. Our brokers will provide you with information on the various insurance types including:

  • Whole-life insurance
  • Cash-value policies
  • Universal life insurance
  • Variable-life and variable-universal life insurance
  • Term life insurance

There are many reasons to purchase life insurance, some of which you might not realize. To get the most out of your life insurance policies, you need the help of expert New York life insurance brokers. We will lay out your options, discuss your goals, and help you make a practical decision.
One of the best things you can do for yourself and your loved ones is to purchase adequate life insurance. Contact us today to speak with one of our certified New York life insurance brokers.