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How much life insurance is enough?

Life insurance is not the same for everyone. What is the right amount of coverage for one person may not be right for another. It is vital to make sure your dependents are able to survive financially and that you discuss your needs in-depth with your independent insurance agent. At Arial Insurance Group in Chicago, IL, we are happy to discuss the insurance options that we offer and personalize a plan just for you. 

To determine how much life insurance is enough, it is vital to take several factors into consideration:

  • What your income is
  • Your dependents
  • The age of your dependents
  • What percent of support they require


If your income is low, you will need less life insurance to replace it than if you have a high income. The object of life insurance is to replace your income to provide for your dependents if you are not there to do it yourself. 


Who counts on your income to survive? Is it just your partner or do you have dependent children?  


The age of your dependents is important when considering the amount of life insurance you will need to keep them in the lifestyle they are currently enjoying. How many years will the support need to be provided? 

What percent of support

Does your spouse or partner work? How much of the income that you provide will be necessary to maintain their lifestyle? Will it be 50%, 75%, or 100%?

Once you have all of this information, you can come up with a figure. Take the number of years times your income and then the percent of it that is required. For instance, 50% of 10 years of $50,000 is $250,000.  

We Can Help You!

Give us a call at Arial Insurance Group or drop into our Chicago, IL office for a free no obligation quote. 

Whole Life Vs. Term Life Insurance

Whole life and term life insurance policies are very different from each other. As the type main types of this coverage, it’s a good idea to know the basics of each before you make up your mind about your own life insurance policy. These policies each have their own drawbacks as well as benefits. When you need a life insurance policy, call us at Arial Insurance Group in Chicago, IL to find out more. 

Whole Life Vs. Term Life Insurance

Whole Life

When you want to have life insurance that stays with you for the rest of your life no matter how old you get, there is whole life insurance. This is a type of insurance that you can keep for as long as you want, and it never expires. Many people choose this type of life insurance for this reason.

It’s great to have insurance that never expires, but these policies come with other benefits as well. They build up a value that you can later borrow if you need to. This is a major benefit that many policyholders appreciate when they have a financial emergency. Whole life policies are more expensive, though, and some people find that they don’t fit their budgets. 

Term Life

Getting term life is often preferred because it is less expensive. It tends to be more affordable for many people’s budgets. However, it does come with a downside. These policies operate on a term that expires. The policy is good for a set term such as 20 years, though it may be more or less than that. After that, the policy ends, and you have to find a new life insurance policy. 

Give Us A Call

It’s important for your family and your own peace of mind that you have life insurance. To get started with a policy, you can call us at Arial Insurance Group in Chicago, IL.

The Types of Life Insurance

It’s important for many people to have life insurance to help those who depend on them. If you have people who rely on you, it’s a good idea to have this protection for them. There are two main types of this insurance, and you should understand how each of them works before you decide on a life insurance policy. When you’ve made the decision to get life insurance, call us at Arial Insurance Group in Chicago, IL.

The Types of Life Insurance

Term Life Insurance

One of the main types of life insurance is called term life. This is a type that is good for a specific term of time, hence the name. With this type of insurance, you get a set death benefit that is in force for a specific number of years before the policy expires. Once it expires, you need to apply for a new policy if you want to be insured again. One of the main benefits of this type of policy is that it is generally reasonably priced. It tends to be the least expensive type of life insurance, and it remains popular for its low cost. However, some people don’t like the idea of their policy expiring, and this may lead them to the other main type of life insurance. 

Whole Life Insurance

With this type of coverage, there is no expiration date. It is good for life no matter how many years that may be. This type of coverage does cost more, but many people appreciate that they can keep the policy for their whole lives. It also builds up a value that you can eventually borrow against should you need to. 

Get Your Life Insurance Protection

If you need a life insurance policy, there’s no time to wait. Call us today at Arial Insurance Group in Chicago, IL.

Are Your Kids Set For Success? Understanding How Your Life Insurance Policy Affects Your Family

Purchasing life insurance protects your family in the event that you pass away. It’s important to be sure you have enough life insurance for your family’s needs in the event of your untimely passing. Here, we’ll explore what you need to know to determine whether you have a high enough level of life insurance for your spouse and/or children, and how Arial Insurance Group, serving Chicago, IL, can help you prepare for the unexpected. 

How Does Life Insurance Work?

Life insurance is a common and important way to protect your family. When you purchase a life insurance policy, you’re financially protecting your family in the event that you pass away. 

Family members receive a benefit in the event that you die unexpectedly, potentially allowing them to enjoy the same quality of life as when you were alive and able to care for them. While it can be tough to talk about life insurance, doing so can help your family rest assured that they’ll be able to continue their current lifestyle in the event of the unexpected.

How Much Life Insurance Do You Need?

The level of life insurance that makes the most sense for your needs will depend on your current financial situation and the payout amount you’d like to provide for your spouse and/or children. An insurance agent at Arial Insurance Group, serving Chicago IL, can help you figure out the right policy level for your family. 

Ready To Talk About Life Insurance?

Arial Insurance Group, serving Chicago, IL, is here to help you ensure that your family is protected by your life insurance policy in the event that you pass away. Reach out to Arial today to learn more about your life insurance policy options. 

Why You Need Life Insurance Now

While life insurance can seem confusing and complicated, it’s an important protection to have to ensure your loved ones and family members don’t face financial hardship if something should happen to you.

When researching life insurance, it is vital that you assess your current financial situation and the needs of your dependents or survivors. Owning a life insurance policy will help loved ones meet any financial needs that your income would have covered otherwise.

If you’re looking for guidance while navigating the world of life insurance in Chicago, IL, Arial Insurance Group is here for you. We have the knowledge and expertise to help you make the right choice for your family.

Don’t Put Off Getting Life Insurance 

Because it can be overwhelming, many people procrastinate selecting a life insurance policy because they’d rather not deal with it. We highly advise you to take the time to do your due diligence and find the policy that fits your needs now and that will take care of your family when you no longer can. 

Is there anything more important than your family’s financial stability? Certainly not. 

Policyholders can design their policy with the guarantee that it covers all potential future expenses that their dependents may require. It’s understandable to feel uncomfortable when trying to plan ahead like this, but it’s worth knowing your loved ones will be secure.

Even if you don’t have dependents, it’s still an advantageous option to have life insurance so it can help cover end-of-life costs for family members.

For residents of Chicago, IL, Arial Insurance Group is passionate about helping people choose the right life insurance coverage. Contact us today for more information, and we’ll get you on the path to long-term peace of mind. 

What Type Of Life Insurance Is the Best?

You have car insurance for your car and homeowners’ insurance for your house. What about your life? Have you protected yourself? It only makes sense to get life insurance to take care of your life and that of your loved ones. 

Are you wondering how to go about life insurance in Chicago, IL? Arial Insurance Group is ready to give a helping hand by providing you with everything you need to know.

Why Do You Need Life Insurance?

Life insurance is a long-term financial plan that everyone needs to pay close attention to. 

Imagine what would happen if you’re the caregiver in your family and suddenly you die? How would life be like for the family members left behind? Would your children continue getting the same quality of life as when you were alive?

These are pertinent issues that need to cross your mind as you evaluate the advantages of purchasing life insurance. 

Life insurance will support your loved ones financially after you’re gone— this is the single most important reason you need to buy life insurance. But what type of life insurance do you need? Let’s look at a few coverages.

  • Term life insurance: This is the most common type of life insurance. It pays the people you choose as beneficiaries a fixed amount of money if you die. However, the money is only available if you die in the course of the term. 
  • Permanent life insurance: This coverage tries to hit two birds with one stone. Offer your beneficiaries income and be a savings account at the same time. As a saving account, this policy is called cash value. It means that you deposit money regularly and can access it as you wish. Unlike term life insurance, it doesn’t expire. 
  • Whole life insurance: This coverage is still meant to pay your beneficiaries after you die, but it has a cash value element. A percentage of your premiums will count as cash value. 

Other life insurance policies include universal life insurance, variable universal life insurance, and joint life insurance. 

Protect Your Loved Ones with Life Insurance

If you’re yet to buy life insurance, then the right time to do it is now! For residents of Chicago, IL, Arial Insurance Group is ready to help you choose the right life insurance coverage. Contact us today for more information.

What are the benefits of getting life insurance?

Those that live in Chicago, IL, and the surrounding communities should seriously consider their life insurance needs. This is a unique form of insurance that offers a variety of benefits that are unmatched by other forms of insurance. Understanding these benefits will help someone determine if getting life insurance is a good option for their situation.

Insurance Offers Financial Protection

One of the main advantages of getting a life insurance policy is that it can offer financial protection to those that depend on you. For those that have dependents, life insurance will give protection in the event they were to pass away unexpectedly. Policyholders can build their policy to ensure it covers all anticipated future expenses that their dependants may need to have covered. Even those that do not have dependants could still benefit from getting a life insurance policy as it can help to cover end of life costs for family members.

Insurance Can be an Investment

Another unique advantage of a life insurance policy is that it can also be an excellent investment. When shopping for life insurance, there are many different options to consider. One option to consider is a whole life insurance policy. When you get a whole life insurance policy, a portion of your premium payments will go into an account that will accrue in value with interest growth. This can make it a conservative investment while also provide other life insurance coverage.

Those that are in the Chicago, IL area, and looking for life insurance should reach out to the Arial Insurance Group. The insurance team at the Arial Insurance Group understands the complexities that come with picking an insurance policy. We can answer any questions you have and ensure you receive proper coverage. 

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