I’m a financial adviser and there are 6 reasons I don’t think $2.5 million of life insurance is too much for my family

father and sonEugenio Marongiu/Getty Images

 

As a financial adviser, I consider it my job to inform my clients about the importance of life insurance and help them decide how much to buy. I’ve seen what happens when families don’t have enough coverage.
I have $2.5 million in life insurance coverage on myself, and I’ve had people tell me that’s too much. But there are plenty of reasons having that much coverage makes sense for my family.
Families typically underestimate how much life insurance coverage they need. In fact, there’s really no such thing as “too much” coverage.
Policygenius can help compare life insurance policies to find the right coverage for you, at the right price »

When I tell people I have $2.5 million in term life insurance coverage, most of them seem fairly shocked. After all, $2.5 million is a lot of money for any family to need if a parent passes away.

With that much money, my family would never have to worry about paying for living expenses or maintaining their lifestyle. But for me, that’s really the whole point.See the rest of the story at Business Insider

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