Life Insurance

Brian Clouden
Vice President

Hearing the word insurance the first thought that might come to mind is health, auto, home and even phone. This makes sense as all these insurances can benefit you in case of an unexpected expense. Life insurance however is a plan put in place to benefit those around you after you are gone. It might be the least considered insurance for some, which is unfortunate as it could make a big impact during the most unfortunate, unexpected times.

Life Insurance & Financial Planning

When you think about life insurance you might not necessarily think about how it ties into financial planning. But when you work with a financial planner from Sgroi Financial we make sure all your current and future financial needs are planned for. We want to make sure that if a client experiences an unexpected loss that their family is still able to meet their daily needs and expenses. The loss of a family member is tough enough; we don’t want to see anyone go through additional struggles of not being able to pay their bills too.

How Much Coverage is Sufficient

A recent study shows that over 60% of Americans have life insurance coverage. However almost half of the people that have coverage have an amount that is insufficient to meet the needs of their family. Deciding proper coverage needs is different for each person depending on a couple of factors:
1.) Size of family, number of dependents
2.) Amount of debt (including house mortgage, cars, etc.)
3.) Other debt/agreements (student loan co-signer, business owner, etc.)
Another simplified way to figure out the amount of coverage is to multiply your annual salary by 10. This is a good way to learn your estimated range you should use as a starting point.

How to Decide the Best Option

To get a complete review of your options I would recommend you meet with someone, whether it’s a financial planner or someone else. There are currently over 600 insurance companies to choose coverage with and working with an independent professional will give you the assistance to best fit your needs. At Sgroi Financial we believe in the standard of personalizing the coverage that best fits your needs.

To learn more about Life Insurance you can listen to my interview with Clay Moden on 106.5FM WYRK.

And watch our commercial on Life Insurance:

WEEKLY SEGMENT ON WYRK

You can catch our weekly Plan.Protect.Invest. segment live on WYRK 106.5FM at 7:20am every Wednesday. Each week we will have a Sgroi Financial planner on with Clay Moden and the WYRK morning show to discuss financial topics to educate and help their listeners.
Since 1971, Sgroi Financial has proudly served Buffalo, NY and the Western New York community from our West Seneca location.

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Securities offered through Cadaret, Grant & Co., Inc., member FINRA/SIPC. Advisory services offered through Sgroi Wealth Advisory Group LLC, an SEC Registered Investment Advisor. Sgroi Wealth Advisory Group LLC, Sgroi Financial LLC, and Cadaret, Grant & Co., Inc. are separate entities.

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