Most estate planning attorneys do not “sell” life insurance, but it is an important component in a successful estate plan. It can be particularly important in years in which your money didn’t make money. If your family was left without the major wage earner – how long could they survive on the cash currently available to them?

Could your savings get your kids through college and allow your spouse to continue his or her current lifestyle or retire as planned? Would the surviving spouse be cash strapped and have to sell the house? If not, life insurance may be critical to the success of your family if they should have to go without you.

Reviewing your life insurance annually is an important exercise. Sometimes I tell my clients quantity over quality, and often it is reversed. Nevertheless, reviewing your insurance and doing the calculations is an important part of protecting those that you love.