When I was a young agent, I used to think $1 Million to $2 Million of term life insurance was a lot of coverage.
Well, I have learned over the years from seeing first hand the heartbreak of insufficient coverage, and of course, thinking of my own family, 1-2 Million is not a lot of coverage.
You may be wondering if you need that much coverage. And more importantly, how to get the best price.
We’ve got you covered!
For an immediate coverage decision up to $2 million, consider Haven Life. Click here to view rates.
Who Needs $1 Million to $2 Million in Life Insurance Coverage?
With 10+ years of experience and hundreds of clients under my belt, I can easily make an argument for why a spouse, parent, or business owner might need $1 Million to $2 Million of term life insurance.
I’ve also know that you don’t have to break the bank when you buy a million dollar policy – it’s affordable.
One Quick Example
Let’s say the income-earner is a 40 year old male in excellent health, he’ll pay just $66.52 per month for a 20 year term policy with $1,000,000 in coverage!
Wow. Now that’s incredible! This is how he qualified for that rate:
He’s a young husband and father making $50,000 per year. He wants to leave his wife enough coverage to replace his income indefinitely.
After all, she’ll need to be able to:
- pay the mortgage and other bills,
- raise the children,
- and put them through college