Comments on: How Much Life Insurance Do I Need?

By: How Much Life Insurance Do You REALLY Need? | Expert Reviews!

How Much Life Insurance Do You REALLY Need? | Expert Reviews! — Tue, 02 Mar 2010 15:32:41 +0000

[...] a case study on myself only a couple of years ago where I went through the process for determining how much life insurance I needed. Things have changed so much in the last two years for me (I can’t believe how much) that [...]

By: Mike

Mike — Sat, 27 Feb 2010 00:05:58 +0000

Steve, you make some great points. Even low inflation over a long time period will have a great effect.

Very true about getting insurance because of kids asap – there isn’t any benefit to delaying this.

Thanks for the great comment.

By: Steve

Steve — Fri, 26 Feb 2010 22:56:32 +0000

While I agree that your assets go up and debt goes down over time – reducing your need for life insurance, there’s also factors like inflation and income/lifestyle increases that increase your need for insurance. That doesn’t mean you should overinsure, but it does mean that you might just want to have one, level term policy.

Also, I would add in some margins of safety if things don’t go according to plan. You might expect to only need 250k for 5 years – but then end up needing it for 6 or 10 or whatever. Again, don’t go crazy overinsuring, but don’t ride the razor’s edge either.

Also, IMHO the time to get life insurance for your future kids is when you start trying to conceive them. There can be a bit of a delay between conception and you finding out about that conception – you wouldn’t want something to happen in that time span and leave your spouse in trouble.

By: Life Insurance: When and Where to Get It? | Prime Time Money

Life Insurance: When and Where to Get It? | Prime Time Money — Fri, 27 Feb 2009 12:01:43 +0000

[...] More reading from Four Pillars: How Much Life Insurance Do You Need. [...]

By: Life Insurance Part 1: How Much Life Insurance Do I Need? | Moolanomy

Life Insurance Part 1: How Much Life Insurance Do I Need? | Moolanomy — Tue, 26 Feb 2008 14:02:04 +0000

[...] How Much Life Insurance Do You Need? at Quest For Four Pillars [...]

By: Insurance » How Much Life Insurance Do You Need?

Insurance » How Much Life Insurance Do You Need? — Sat, 13 Oct 2007 21:28:36 +0000

[...] Four Pillars wrote an interesting post today on How Much Life Insurance Do You Need?Here’s a quick excerptPlease note: this only applies to term insurance. Universal insurance (which I don’t recommend by the way) is an entirely different product. Term insurance is insurance where you pay a monthly or annual premium for an amount of … [...]

By: Carnival of Personal Finance #121 - Columbus Day Edition (Ask Mr Credit Card’s Blog)

Mon, 08 Oct 2007 08:30:42 +0000

[...] Gov Guliani : After what happened on 9/11, I would say that the first thing you have to do is to figure out how much life insurance do you need? [...]

By: The Financial Blogger | September Top Ten Posts

The Financial Blogger | September Top Ten Posts — Mon, 01 Oct 2007 11:11:03 +0000

[...] How Much Life Insurance Do You Need? By Fours Pillars and Mr. [...]

By: Why Over Insuring Is Like Buying Lottery Tickets

Why Over Insuring Is Like Buying Lottery Tickets — Mon, 01 Oct 2007 09:03:59 +0000

[...] a previous post I indicated a simple formula that can be applied to determine how much life insurance you need. I [...]

By: Four Pillars

Four Pillars — Fri, 28 Sep 2007 02:21:52 +0000

Nurse B – that’s a very generous way to take advantage of a cheap policy from work.

Mike