When it comes to life insurance coverage, for people that already have some coverage, I am finding that many people fall in two categories: over or under insured.

What do I mean? If, for example, we sit down and we determine that you have just turned 63, your kids are out of the house, you are fortunate to have paid off your mortgage and you have a policy(s) and the amount of the insurance is still in force to cover the mortgage, your debt you paid off 10 years ago etc., then chances are you might be considered "over" insured.

Don't get me wrong, I believe that everyone should have more than enough life insurance coverage, but on a case by case basis, if you are spending money on coverage for things that are no longer needing to be covered, you could be investing some of that money into other areas of your financial portfolio instead.

Many people from the age of 30 to 50 fall in the category of under-insured. There are many reasons why this occurs, one prominent reason is many people are able to obtain life insurance through the benefits offered from their jobs. Chances are, you are under-insured if have a policy through your job and for example, it is 3 times your salary. Let's say that your salary is $45K..this likely means that you have coverage of about $135k. If you have a mortgage, some debt, have children, etc., it is very likely that having just this policy will not provide enough coverage for you. It is also good to have supplemental coverage outside of your employment because you can
lose your job and lose the coverage.

You don't want to put it off, time makes a difference. If you received that coverage when you started that job 5 years ago and you were 31, the premiums on a  new/supplemental policy will be adjusted to your current age of 36. Don't delay. You know what is important to you. Especially if you have children, there is absolutely nothing wrong with paying for their college or leaving them an inheritance!

Take a moment and think about the coverage you have. Don't delay. Please call me to set up a time so that we can meet and do a coverage analysis.