Kollmorgen & Associates Kollmorgen & Associates Services

There are many reasons to be scared of dying but the financial welfare of your loved ones should not be one of those reasons.  When a person dies, the people they leave behind are often burdened with not only grief but also additional funeral expenses and the lack of an additional income from the deceased.  Just consider some of these facts from LIMRA International:

  • 15% of husbands and 28% of wives have no life insurance
  • Six million households with children under the age of 18 have no life insurance or term life insurance protection
  • 22% of families with dependent children admit they’ll have immediate trouble with everyday living expenses
  • An additional 26% say if a primary wage earner dies they’ll only be able to cover expenses for a few months

The main solution to these issues is life insurance.  This type of insurance isn’t for the living, its for the people that they leave behind.  Please consider:

  • The average amount of life insurance coverage on insured husbands is $235,600. The average amount of life insurance coverage on insured wives is $147,800.
  • Insured husbands carry enough life insurance to replace their income for only 4.2 years and wives for only 4.9 years. To meet the expert recommendation of having enough life insurance to replace income for a term of 7 to 10 years, the typical married couple would need to double its coverage.
  • 56% of married parents believe their current life insurance protection is inadequate.

We at Kollmorgen & Associates believe in sitting down face to face to figure out your insurance needs.  Maybe the average amount a husband carries is perfect for you, but chances are you are not average.  We take the time to listen to your personal story and beliefs and we create plan to match your goals, not ours.  Give us a call and we’ll discuss your personal needs.