Life in the Brazos.com

Matthew Chalmers

The Financial Foundation

Life Insurance: Know What You Need
By: Matthew E. Chalmers, Northwestern Mutual Financial Network

When it comes to purchasing life insurance, there are a few rules of thumb to keep in mind. One of the most important is understanding that “one size does not fit all. ¯It stands to reason that everyone's situation is unique and the amount of insurance you need can only be determined by considering your individual circumstances. How many people in your family do you support financially? What are their current and future expenses? What does your financial plan currently entail? These types of personal questions can help determine how much insurance you need. As it turns out, most Americans are underinsured. According to a 2004 report by the life insurance industry's research association LIMRA International, the average person is underinsured by more than $300,000.¹Talking with a qualified financial professional who understands your individual needs and goals can help you determine what amount of insurance is best for you and your family. To learn more about life insurance as well as find a variety of other informational articles available to you and your family, I encourage you to visit the article library found on my website at http://www.nmfn.com/matthewchalmers/learnctr--articles--article_library, or feel free to contact me at (979) 846-0668 or matthew.chalmers@nmfn.com with any other questions
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Matthew E. Chalmers is a Financial Representative with Northwestern Mutual Financial Network the marketing name for the sales and distribution arm of The Northwestern Mutual Life Insurance Company (NM), Milwaukee, Wisconsin, its affiliates and subsidiaries. Financial Representative is an insurance agent of NM based in College Station, TX.
LIMRA International - FastFacts - Special Edition August 2004.