Financial Needs Analysis

When you buy insurance, an advisor may help you decide how much insurance you need by completing a financial needs analysis.

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This looks at your unique current financial and personal situation and goals to help calculate how much insurance you need.

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It will often include things like taking care of dependents and paying off debt.

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This process is most frequently used for calculating life insurance needs, but can be used for other forms of insurance as well and is a good best practice for insurance advisors.