AAA South Jersey September/October 2012 : Page 12
What Are You Worth? Ask the right questions to get the life insurance you need You are valuable to your family in so many ways—you offer love, guid-ance, time, and so much more. But the financial support you provide is one of the most important assets for your family. Your income allows you to take care of your loved ones now and make plans for the future as well. But what if you’re no longer there? How would your family cover all of the day-to-day expenses as well as the plans you’ve made for the future? Getting the appropriate amount of life insurance is a great way to help ensure your loved ones are taken care of if the unexpected happens. Replacing Your Income When thinking about your life in-surance needs, a good place to start is to figure out what it would take to replace your income. Consider your annual income, how long you want to replace it, and what other assets (life insurance, savings, and invest-ments) you already have in place. The gap you’re left with is what you should consider covering with life insurance. And keep in mind, you’re likely worth much more than you think. It is estimated that the average Ameri-can earns $1.7 million in a lifetime. ,560 $295 THAT’S THE COST OF RAISING A CHILD FROM BIRTH TO AGE 18.* There is one simple reason that people buy life insurance -to help protect those who matter most . Getting the right amount of life insurance through AAA can help cover items such as mortgage payments, college tuition, and daily living expenses. Take stock of your fi nancial situation today to make sure your family has the protection they deserve. 20-YEAR TERM LIFE POLICY Monthly premium for a 20-year level term policy, best class for non-nicotine. $300,000 AGE 35 40 45 50 MALE FEMALE $18.22 $24.02 $37.22 $54.91 $16.37 $20.86 $31.42 $42.24 Other Key Expenses You’ll also want to think about other costs your family will face without you. These could include emergency expenses, outstanding debt, and lon-ger-term goals like college education for your children. Get Your Needs Analysis Today Take a few moments to calculate your life insurance needs. Visit AAA Life’s online Life Insurance Needs Calcula -tor at www.aaalife.com/needs-calcu -lator to get started. get a quote and get protected. WE TAKE LIFE SERIOUSLY. Get a FREE no obligation life insurance needs assessment from a local AAA Life Insurance Specialist. You need to replace $50,000 of income for 20 years, totaling $1 million. If you have $250,000 in life insurance, savings, and investments, then Your income replacement gap = $750,000 1.888.878.5987 AAA.com/Life Your Local AAA Branch *Expenditures on Children by Families, 2011, U.S. Department of Agriculture. Amount for a middle income family including projected infl ation costs. Premiums are guaranteed for the term period, then increase annually thereafter. Premiums above are examples only and may vary based on your personal health history and underwriting guidelines. Certain exclusions apply. See policy for specifi c details of coverage. Policy and its features may not be available in all states. Life insurance underwritten by AAA Life Insurance Company, Livonia, MI. AAA Life is licensed in all states except NY. AAA Life CA Certifi cate of Authority #07861. Policy Form Series ICC11-1201, TL-1201. ALAN-20801-812-XX AAA.com • SJ First • 12 • September/October
Insurance
What Are You Worth?<br /> <br /> Ask the right questions to get the life insurance you need<br /> <br /> You are valuable to your family in so many ways—you offer love, guidance, time, and so much more. But the financial support you provide is one of the most important assets for your family. Your income allows you to take care of your loved ones now and make plans for the future as well.<br /> <br /> But what if you’re no longer there?How would your family cover all of the day-to-day expenses as well as the plans you’ve made for the future?Getting the appropriate amount of life insurance is a great way to help ensure your loved ones are taken care of if the unexpected happens.<br /> <br /> Replacing Your Income <br /> <br /> When thinking about your life insurance needs, a good place to start is to figure out what it would take to replace your income. Consider your annual income, how long you want to replace it, and what other assets (life insurance, savings, and investments) you already have in place.The gap you’re left with is what you should consider covering with life insurance.<br /> <br /> And keep in mind, you’re likely worth much more than you think. It is estimated that the average American earns $1.7 million in a lifetime.<br /> <br /> Other Key Expenses <br /> <br /> You’ll also want to think about other costs your family will face without you. These could include emergency expenses, outstanding debt, and longer- term goals like college education for your children.<br /> <br /> Get Your Needs Analysis Today<br /> <br /> Take a few moments to calculate your life insurance needs. Visit AAA Life’s online Life Insurance Needs Calculator at www.aaalife.com/needs-calculator to get started. Get a quote and get protected.<br /> <br /> You need to replace $50,000 of income for 20 years, totaling $1 million.<br /> <br /> If you have $250,000 in life insurance, savings, and investments, then Your income replacement gap = $750,000
