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Kriener Insurance

724 Bielenberg Drive, Ste 5
Woodbury, MN 55125

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Minnesota Insurance Blog

Who Needs Life Insurance in Woodbury, MN?

According to the Insurance Barometer 2020 Report, approximately 41 million Americans said they need life insurance, but they don’t have it. Part of the failure to invest in life insurance is that most people assume it’s expensive. For others, they wrongly assume that they don’t need life insurance at all.

While not everyone needs life insurance, if you are in the below categories described by Kriener Insurance of Woodbury, MN, you need life insurance ASAP.

You have dependents

Of course, most people take life insurance to supplement their income when they die. If you have a spouse, aging parents, kids, or siblings that depend on your income, think about how they would survive in your absence. It would be hard, right? For this reason, invest in life insurance today to safeguard the financial future of your loved ones. 

You are planning to get a baby

If you are expecting a baby or about to adopt one, now it’s time to buy life insurance. Since your health declines with age, waiting to buy life insurance until your kid attends school will be expensive. Instead, purchase life insurance today – it will be cheaper, and it will step in to cover child care expenses if you die unexpectedly.

You have debts

When looking for a life insurance plan, financial experts advise you consider your total debts so that your beneficiaries can pay off your debts in full. Without life insurance, you are likely to burden your loved ones and cosigners with debts like mortgages, student loans, and credit cards. 

You have a business

If you would like your business to succeed even when you pass on, invest in life insurance. This coverage ensures your employees and other stakeholders are paid in your absence. Besides, life insurance can help finance any outstanding business loans. 

Buy life insurance today!

Now that you have seen life insurance benefits, it’s time to invest in a plan. If you are in Woodbury, MN, and its environs, please contact Kriener Insurance for an affordable quote.

Do I Really Need Life Insurance?

You may be wondering if you really need life insurance, particularly if you don’t have dependents that rely on your income. Most people should have a life insurance policy. At Kriener Insurance in Woodbury, MN, we offer different life insurance policies designed to meet different needs. Here are a few reasons you might need life insurance. 

You Have Debts

If you have debts, family members or cosigners may be responsible for them if you pass. Student loans, car liens, and other types of loans may leave your loved ones in a bind if you leave debts behind. If you don’t have the savings to cover any debts, you should have a life insurance policy that will cover them. 

Medical and Burial Expenses

Do you have money set aside to pay for your burial? The average cost for funeral and burial services is $7,000-$12,000. If family members are mourning your death, you don’t want to leave them worrying about how to pay your final expenses. Medical expenses may fall on family members as well, particularly a spouse. Unexpected medical expenses can add up quickly and cause financial hardship. 

You Want to Leave a Legacy

Your beneficiary can be an organization as well as loved ones. Do you have a cause that is important to you? Would you like to leave a meaningful legacy behind by making a financial contribution to an organization? Would you like to ensure that your children or grandchildren can go to college? A life insurance policy can allow you to make a meaningful contribution to the people or cause that matters most. 

Life Insurance at Kriener Insurance

If you don’t have a life insurance policy in Woodbury, MN, contact us at Kriener Insurance. Our agents are happy to discuss your options and help you select the policy that meets your needs. 

How Much Life Insurance Do You Need

One of the most common questions when it comes to life insurance is how much life insurance you need. There are all kinds of numbers tossed around, and some of these numbers might sound big, but when it comes to paying for your family after you are gone, what is a number you should consider? Here at Kriener Insurance, we want to make sure you know all the ins and outs when taking out life insurance while living around greater Woodbury, MN. 

How Much Life Insurance

First, you need to add up all your current long-term expenses (such as a mortgage, college tuition, car payments, and other bills). You need life insurance to cover this. However, you’ll also want money to cover living expenses. Some choose to multiply their current income by six or even ten. Others will consider how many years they have left until retirement, which they will then multiply by their income. 

There are several mathematical formulas available for helping you determine how much life insurance is right. Ultimately it depends not only on your age but on how many children you have, plus the amount of debt and current financial obligations you have. Our expert team can help perform all of these calculations for you.

Find Life Insurance For Your Needs

Life insurance is one of the most important investments you can take out for your family. There will be a time where you are unable to provide for the members of your family, which is why life insurance is so valuable an investment. You likely have questions about which coverage is right for you, which is why our staff here at Kriener Insurance is ready to address all your needs while living in or around Woodbury, MN.

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