Songer Insurance Agency, Inc. Blog

All You Ever Wanted to Know About Insurance

The comforts that a Guaranteed Universal Life (GUL) can provide:


  • Long Term Protection – a term that lasts to age 121.
  • Peace – so you can sleep at night knowing your family will be taken care of.
  • Stability that comes from a secure and trustworthy company.
  • It gives the long-term protection of a permanent product without the cost of one. 

Replacement of an income stream is a crucial factor in determining the amount of life insurance needed for a family to continue its current standard of living. In most cases, the money earned by one or both spouses is critical to pay current expenses, meet debt obligations and save for the future. A disruption in earnings can significantly affect a family’s well-being, especially in a time of crisis. 

Life insurance proceeds needed to replace a spouse’s earned income over specified periods of time 

Net Income Being Replaced :                                           Lump Sum Death Benefit Needed to Replace Income :                                                                                          

Monthly

Annually

10 years

20 years

30 years

$3,000

$36,000

$326,039

$593,022

$811,646

3,750

45,000

407,549

741,278

1,014,557

5,000

60,000

543,399

988,370

1,352,743

6,250

75,000

679,248

1,235,463

1,690,928

8,333

100,000

905,628

1,647,218

2,254,481

10,000

120,000

1,086,798

1,976,740

2,705,485

12,500

150,000

1,358,497

2,470,925

3,381,856

16,666

200,000

1,811,257

3,294,435

4,508,962

25,000

300,000

2,716,994

4,941,851

6,763,713

Songer Insurance Agency was founded in 1954. We have been serving Beckley WV and all of southern West Virginia over 65 years. We have professionals in autohomecommerciallifehealth. So we are able to meet the needs of most people in the market for insurance. Please call, or stop in our office located in beckley WV.