How do I know if I am over or under insured?

I have always been very sensitive to this situation. Most agents will sell you what your highest need is and sell as much of that product to you as you will buy and then leave without even asking about other needs you may have and be happy they sold you what they did. What's wrong with this picture? To start, can you answer this question? "exactly what is going to happen to me next?" Get sick, become disabled, die, etc... and how much insurance will I need for that event?" You see, my point is no one knows the future. No one knows if they are going to need health insurance or disability insurance or life insurance etc... next. So if you don't know what type of insurance & how much you will need next and you have a certain amount budgeted each month for insurance the decision should be a no brainer right? Wrong! Over the last 25 years I have met with thousands of people that are always lacking in one area or another. Why?, Why don't they have a complete insurance portfolio. One with all the types of insurance they will need and an adequate amount of each of the coverages they purchase? it's simple, people buy insurance as the need arises or they get scared when they hear someone down the street either died, became disabled, etc... I lost count of how many times I met with someone and they made the statement " The reason we are seeing you is one of our friends, neighbors, you get the picture, died or got very sick. Yet I never once met someone in 25 years who met with me and said "OK here is the amount I have budgeted each month to cover a complete, balanced and well rounded insurance portfolio, one that will include health, disability, life & cancer insurance. It just doesn't happen! Every time I meet wih a client I ask them what other types of policies do they have or do you have any questions about a policy type we have not discussed yet? The solution is simple. Review your budget and figure out a comfortable amount you could afford each month to cover these 4 types of policies. Have an agent put together a recommendation with the amounts of coverages that amount of money will buy. This way you will have a "balanced insurance portfolio" I know, the next question is "what if the amount of money I budgeted is not enough to buy all four policies?" I will answer this tomorrow in my next posting.