Comments on: The Importance of Life Insurance http://www.lamptonengleagency.com/78/the-importance-of-life-insurance/ Mon, 27 Dec 2010 15:59:34 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Brian Lampton http://www.lamptonengleagency.com/78/the-importance-of-life-insurance/comment-page-1/#comment-44 Brian Lampton Tue, 05 Aug 2008 16:14:33 +0000 http://lamptonengleagency.com/?p=78#comment-44 That is correct. Financial experts have different ways to calculate how much life insurance a person should have. Some believe in the human life value approach, using some multiple of the income produced, some advocate using the multiple and eliminating all debt. Some others suggest buying the maximum amount of insurance a compnay will allow. The insured also has imput as to how much insurance they feel they can afford, and what kind of insurance they want to purchase. I don't want to debate these methods because I feel they are all good methods. The purpose of the article was not meant to discuss how much coverage is needed, or what kind of policy is needed or desired. I wanted to point out how important is is that some life insurance is purchased. I'm sure all experts would agree that SOME coverage is better than none. I wanted to illustrate how inexpensive SOME coverage could be. I want people to think about the importance of owning or even "renting" some life insurance and to take action to purchase some coverage for the benefit of their family and loved ones. That is correct. Financial experts have different ways to calculate how much life insurance a person should have. Some believe in the human life value approach, using some multiple of the income produced, some advocate using the multiple and eliminating all debt. Some others suggest buying the maximum amount of insurance a compnay will allow. The insured also has imput as to how much insurance they feel they can afford, and what kind of insurance they want to purchase. I don’t want to debate these methods because I feel they are all good methods.

The purpose of the article was not meant to discuss how much coverage is needed, or what kind of policy is needed or desired. I wanted to point out how important is is that some life insurance is purchased. I’m sure all experts would agree that SOME coverage is better than none. I wanted to illustrate how inexpensive SOME coverage could be. I want people to think about the importance of owning or even “renting” some life insurance and to take action to purchase some coverage for the benefit of their family and loved ones.

]]> By: Byron Udell http://www.lamptonengleagency.com/78/the-importance-of-life-insurance/comment-page-1/#comment-41 Byron Udell Mon, 04 Aug 2008 18:44:17 +0000 http://lamptonengleagency.com/?p=78#comment-41 You make some great points about the importance of life insurance. However, you're really underestimating the amount that families need. Insuring your life is like insuring your income. If you make $50K a year, then having $100K in life insurance is only insuring 2xs your income. Won't your family need more? Especially if the kids are young? Life insurance is so inexpensive that it doesn't make any sense to me why anyone wouldn't buy at least 10xs their income. You make some great points about the importance of life insurance. However, you’re really underestimating the amount that families need. Insuring your life is like insuring your income. If you make $50K a year, then having $100K in life insurance is only insuring 2xs your income. Won’t your family need more? Especially if the kids are young? Life insurance is so inexpensive that it doesn’t make any sense to me why anyone wouldn’t buy at least 10xs their income.

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