Choosing the right amount of life insurance isn’t just about picking a number—it’s about ensuring financial security for the people you care about. Whether you’re providing for a spouse, children, or aging parents, the goal is to leave behind stability, not uncertainty. So, how do you determine how much coverage is enough? Your representative at Fuhriman Insurance Agency, serving Boise, ID, can help guide you through the process.

Start With Your Income and Responsibilities

A good starting point is to multiply your annual income by the number of years your family would need support. Many experts recommend 10 to 15 years of income, but this figure can vary depending on your circumstances. If you have young children or significant debt, you may need more coverage. Consider how long your loved ones would require financial assistance to maintain their lifestyle.

Factor in Debts, Education, and Final Expenses

Life insurance can also help cover outstanding debts such as mortgages, car loans, and credit card balances. Add these amounts to your estimate, along with the cost of college tuition if you plan to support your children’s education. Don’t forget to account for final expenses—funeral and burial costs can easily reach thousands of dollars.

Consider Existing Assets

If you already have savings, investments, or other financial resources, subtract these assets from your total insurance need. The goal is to close the financial gap without overextending your policy unnecessarily. A licensed agent can help you calculate your needs accurately, eliminating guesswork and ensuring you’re not paying for more coverage than required.

Plan With Purpose

Calculating your life insurance needs isn’t about fear—it’s about thoughtful planning. With the right coverage in place, you can provide your family with something that lasts far beyond a paycheck: peace of mind. Contact Fuhriman Insurance Agency, serving Boise, ID, today to get started on securing your family’s future.

Life insurance is often viewed as a means to protect loved ones financially. However, it can also serve as a powerful tool for charitable giving. At Fuhriman Insurance Agency in Boise, ID, we assist individuals in finding innovative ways to utilize their policies to support the causes they care about, even after their passing.

Naming a Charity as Your Beneficiary

The simplest way to use life insurance for philanthropy is by naming a charity as a beneficiary. This ensures that when the policy pays out, all or a portion of the proceeds will go directly to the organization of your choice. It’s an effortless way to make a lasting impact without affecting your current financial situation.

Donating an Existing Policy

You can transfer ownership to a charitable organization if you have a life insurance policy you no longer need. This allows the charity to either keep the policy and receive the death benefit later or cash it in for immediate funds. Depending on tax laws, you may be eligible for a charitable deduction when you make this type of donation.

Establishing a Charitable Remainder Trust

A charitable remainder trust (CRT) can be an excellent option for those seeking a more structured approach. This allows you to receive income from your life insurance policy during your lifetime, with the remainder going to a charity upon your passing. It’s a balanced way to combine philanthropic giving with personal financial security.

If you’re considering using life insurance to leave a meaningful legacy, Fuhriman Insurance Agency in Boise, ID, can help you through the process. Contact us today to explore your charitable giving options.

Most people understand the importance of purchasing life insurance to help their families cover end-of-life expenses. However, with more than one type of life insurance available, you may have questions. If you live in the Boise, ID area and want to discuss insurance options, our team at Fuhriman Insurance Agency is ready to help you find the right policy. We have been serving clients in your area since 1962.

Do Single Individuals Need Life Insurance?

If you’re single, you might wonder if you need life insurance. Many people believe that only married individuals with families need life insurance. However, according to Experian, there are good reasons for single people to buy life insurance. If you have dependents or lack substantial savings for your burial expenses, a life insurance policy can help cover your final expenses.

If you’re young and healthy, buying life insurance while you’re young can help you save money on your premiums. The type of policy you choose will determine how your benefits will be paid. For example, a term life policy ends after a specified period and provides payment only if you pass away during the insurance term. A whole life policy lasts your entire life and pays a fixed amount upon your death.

Contact Us Today for Your Appointment

Every person’s insurance needs are different, so finding an agency that understands the need for policy personalization is invaluable. Clients in the Boise, ID area can trust us to provide the necessary insurance options. Our team at Fuhriman Insurance Agency is dedicated to making insurance easy for you to understand. Call us for an appointment today, and let’s talk about insurance.

Most people understand the importance of purchasing life insurance to help their families cover end-of-life expenses. However, with more than one type of life insurance available, you may have questions. If you live in the Boise, ID area and want to discuss insurance options, our team at Fuhriman Insurance Agency is ready to help you find the right policy. We have been serving clients in your area since 1962.

Do Single Individuals Need Life Insurance?

If you’re single, you might wonder if you need life insurance. Many people believe that only married individuals with families need life insurance. However, according to Experian, there are good reasons for single people to buy life insurance. If you have dependents or lack substantial savings for your burial expenses, a life insurance policy can help cover your final expenses.

If you’re young and healthy, buying life insurance while you’re young can help you save money on your premiums. The type of policy you choose will determine how your benefits will be paid. For example, a term life policy ends after a specified period and provides payment only if you pass away during the insurance term. A whole life policy lasts your entire life and pays a fixed amount upon your death.

Contact Us Today for Your Appointment

Every person’s insurance needs are different, so finding an agency that understands the need for policy personalization is invaluable. Clients in the Boise, ID area can trust us to provide the necessary insurance options. Our team at Fuhriman Insurance Agency is dedicated to making insurance easy for you to understand. Call us for an appointment today, and let’s talk about insurance.