• Mike Arnold

How Much Life Insurance Do You Need? Do You Know?

Updated: Mar 6


How do you find out? Are you looking for a small burial policy or something that offers piece of mind for your family to stay in their home.

  • Review your insurance needs. Choose a policy that offers benefits that most closely fit your needs.

  • Consider the premium payments. Are they affordable for you? What if the premiums increase? Would you still be able to afford them?

  • Buy life insurance only with the intention of sticking with it.

  • Don’t buy a policy with the intention to drop another. Make sure you understand the repercussions of your decision; it could be costly to you and/or your heirs.

  • Review your life insurance program at frequent intervals.

A simple comparison of premiums is not enough to show what policy will give you the best value for your money. Other things to consider are:

  1. Do premiums or benefits vary from year to year?

  2. How much do the benefits build up in the policy?

  3. What part of the premiums or benefits is not guaranteed?

  4. What is the effect of interest on money paid and received at different times on the policy?

Contact the Mike Arnold Insurance Agency at (434) 295-2692, today to find the best personal insurance for you.