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Do You Know When You’re Going to Die?

The tricky thing about life insurance is that you don't know if you'll use it, or if you do, when.

If you know when you’re going to die, don’t read this blog. The tricky thing about life insurance is that you don’t know if you’ll use it, or if you do, when. Similar to property and casualty insurance such as home insurance, not knowing if you’ll need it is what makes it hard to buy. However, the risk of not buying insurance, and not buying enough is much greater and more dangerous than buying insurance and not knowing if you’ll use it. Here are three things to consider when deciding if you should buy life insurance.

1. Do you know the future?

We’re instructed to number our days. As a young man, I especially need to listen to this piece of advice. I often dismissed this notion because I thought I had so much more life to live. However, the somber truth is that I don’t know what the next minute holds. A sudden health issue or accident can stop all of this in its track, and leave behind a trail of tears. Learning to number our days not only helps us gain more wisdom but also helps us enjoy life more. When you’re numbering your days, you take a little extra time to enjoy things around you.

2. Who are you thinking about?

What’s holding you back from looking into life insurance? Is it that you haven’t stopped to think about those around you? What would happen to your loved ones if you were to suddenly pass away? Buying life insurance is not something you do for yourself like buying car insurance is. It is done for someone else. So, if you’re still stuck on the idea that you don’t need life insurance, consider those around you, and what burdens could be lifted with this tool.

3. How do you know how much to buy?

There are a few easy ways to calculate how much life insurance you should purchase. My favorite is the DIME method. Consider these factors: how much Debt you have, how much Income will be lost if you die, how much you have left on your Mortgage, how much will Education cost for you kids. Think about these four things to get a good understanding of the base level you should consider.

Interested in finding out more about life insurance? Contact us at or at 317-253-1155.