Your life is constantly changing and evolving as you grow older. So it’s only natural that your need for life insurance changes as you go through the years as well. In its most basic form, this coverage is designed to provide your family with financial support after your death. But how much support is needed?
Picture a parabola as a representation of your life insurance needs. You start out with a low need, which begins to grow as you get married and/or purchase a house. If you have a spouse, it’s likely that you two rely on both incomes to make ends meet. What would happen if one spouse died, leaving behind a mortgage and a stack of bills? 
The need for life insurance reaches a peak during the years you spend raising children. If you were to pass away, someone would still need the money to pay for doctors, education and all of your children’s expenses.
Once your children are grown, your need for life insurance begins to decrease because it’s only you and your spouse in the household. However, note that the greater need may still be there if you support elderly parents or other family members.
To ensure that you retain the appropriate amount of coverage, review your policy every year and again after a major event like marriage, child birth, death, a pay raise and more. Remember to update your beneficiaries if you have another child, or when desired under varying circumstances.
We’ll help you get started today. Contact Buschbach Insurance for more information on life insurance.