One of the questions that we at Coosa Valley Financial Group, serving the greater Rome, GA area, are most frequently asked is regarding how much life insurance a person truly needs. If you are married, one of the specific questions you may have about life insurance is whether you and your spouse should have equal amounts of life insurance out on each other. Read on to learn more about whether you and your spouse should have equal amounts of life insurance on each other. 

Should You and Your Spouse Have Equal Amounts of Life Insurance Out on Each Other?

You and your spouse do not technically need the same amount of life insurance on each other. This is because most spouses do not make the same amount of money, have the same amount of assets, have the same amount of debt, or even have the same amount of life expectancy. Additionally, one person may have come into the marriage with children already and may need a different amount of life insurance to help their child if they pass away prematurely. These factors should be weighed when determining how much life insurance to purchase. 

It can be challenging to determine how much life insurance is the right amount of life insurance, as there are many factors to consider. Suppose you want to purchase a life insurance policy in the greater Rome, GA area. In that case, Coosa Valley Financial Group can sit down with you and explain what factors you need to consider when determining how much life insurance is right for you. Call or email us today to get started.