Life Insurance Information Request

Why Request A Life Insurance Quote

Everyone deserves a secure financial future, which is why life insurance is so important, whether you live in Upland, Rancho Cucamonga, Claremont,  or elsewhere in Southern California, or even the country. Our Upland, CA life insurance specialists have decades of experience advising clients from the Inland Empire and Southern California on obtaining a life insurance quote and ultimately a life insurance policy to provide peace of mind and plan for the future. 

Whether you are just starting out as a young professional, or you are getting ready to retire, a life insurance policy can help you give your family financial peace of mind if you are no longer there to provide for them. Whether you would like to help your family maintain its current lifestyle, pay college costs or leave a legacy for future generations, AIM Inc. has life insurance quote options to fit your needs and budget.

How Much Life Insurance Do I Need? 

When you request a life insurance quote, you may be wondering how much life insurance you really need. Don’t worry if you don’t have the exact number or are not sure. Our financial planning specialists will help you understand your options and ensure that the life insurance coverage you pick is enough to cover your financial obligations. 

One way to estimate how much life insurance you need is to add up the financial obligations you want to cover (such as income replacement, a mortgage) and then subtract assets that could be used by your family (such as savings or existing life insurance).

Below are sample costs items to consider in “financial obligations you want to cover with life insurance”:

• Income replacement: For this number, you multiply the salary you want to replace, times the number of years you want to replace it. You want this income replacement to cover current and future expenses. For example, if your current salary is $100,000 per year, you may decide that you need $100,000 x 10 years = $1,000,000 in coverage.
•  A mortgage: You can include the balance of a mortgage so your family can stay in their home without fear of losing it. Let’s say your remaining mortgage today is $300,000. Then your life insurance coverage needs to be enough to cover the balance in case you pass away.
•  Other large debts: Would your family struggle with other large debts if you passed away unexpectedly? Perhaps there is a line of credit, car payments, personal loans, or large credit card balances to be paid off. If so, add those in.
•  Children’s college tuition: If you have young children, you may need to include the cost of tuition to ensure your children’s college education is covered if you were no longer around.