Life Insurance Awareness Month

Presented by Marc Aarons

September is Life Insurance Awareness Month. If you haven’t reviewed your insurance profile in a while, you may be surprised that what made sense in the past no longer fits your life.

Here are some ways to quickly evaluate your needs.

*Stop on a DIME – To use the DIME method, add up your Debt, ten years of Income, your Mortgage payoff amount, and the cost of your children’s college Education. This can provide a starting point for how much insurance coverage you may require.

*Look at Your Options – Do you need term life insurance (coverage for a fixed amount of time) or whole life insurance (a policy structured to last until you pass away)?

*Evaluate Costs – The price of a policy depends on your age, health, and the amount of coverage in the policy.

These methods can help give you a rough idea of where to start. But there’s no substitute for speaking with a financial professional, insurance agent, and estate planning specialist about the right approach for you.

After all, life doesn’t stand still, and neither should your life insurance policy.

Marc Aarons may be reached at 714-887-8000 or marc@ocmoneymanagers.com

ocmoneymanagers.com

MMI Disclosure: This material was prepared by MarketingPro, Inc. for use by Marc Aarons.  Money Managers, Inc.; is a Securities and Exchange Commission registered investment advisor.  Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities, and past performance is not indicative of future results.  Investments involve risk and are not guaranteed.  Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed here.