Every advisor has a formula they think is best for determining how much long-term cover you need. Some formulas are simple, whereas others look like something only Elon Musk could cook up. But don't let complexity overwhelm or discourage you. For most locums, the simplest method is best.

To calculate how much coverage you might need, I help you complete a worksheet by listing your current monthly expenses and continued sources of income in the event of a disability.

Then we look at potential extra expenses and additional assets to help you understand what other financial burdens you may have in the future that you may need to protect yourself against.

Keep in mind that these numbers do not need to be exact; they will vary based on your future circumstances. As we think about how much income you might need if you become disabled, we consider how long disabilities tend to last, and that disability often brings additional expenses you may not currently have, such as those for medical costs, aides, etc.

While it is impossible to say what additional expenses you might face, you should consider the issue as you think about your future income needs and insurance. This is especially true if you have minimal savings that you could rely on to help cover these costs.

Specific questions or want to know more? I'd love to hear from you, email me at [email protected] , call me at +447491280562 or schedule a free call at calendly.com/etochi-uzoagbara-accessfs/15min