How Much and What Kind?

The Tactical Planning Group

Life insurance is one of the foundations of financial security for you and your family. It provides tax free money to your beneficiaries when you die. It can help replace income, pay off your mortgage and debts, pay for college and provide financial security for your loved ones.

Whole Life insurance also has a living benefit – to accumulate funds for your financial goals. It is a source for college education funding, supplemental retirement income, starting a business or other capital need you may have.

There are 3 basic types of life insurance:

Term Life

Inexpensive coverage for a specific period of time. It has no asset value.

Universal or Whole Life

Life insurance designed to be in force when you die, even to age 100. It has an asset called cash value. The tax deferred growth of the cash value is a result of premiums being deposited to the policy’s reserve account. Interest and dividends, although not guaranteed, are credited to your policy by the issuing life insurance company.


Many agents recommend that you determine what your annual income is and use a multiplier to determine how much coverage you need. The scientific approach is to calculate your “Human Life Value”. This scientific approach evaluates your asset and income needs, adjusted for inflation, along with your age, and your current income. Then purchase that amount.

The Tactical Planning Group

 will help you decide what kind and how much insurance is best for you, and at the most competitive prices.