One of the most important parts of purchasing life insurance is deciding how much coverage to purchase. After all, you want to make sure your family has the coverage they need to be financially secure if you should pass away.
One way insurance agents decide how much coverage you need is to recommend you buy 7-10 times your annual income. This has been used for a number of years as an estimate of your life insurance needs. The only problem is that it doesn't really take into account your personal situation, your current savings, number of dependents, and how old they are.
However, now there is a life insurance needs estimator you can use online that asks you some basic questions about your personal situation and gives you an instant, accurate estimate of your life insurance needs based on your current financial condition and future financial needs for your family.
You can use this term life insurance calculator to quickly and easily determine how much life insurance you need before comparing your free life insurance quotes.
Insurance without any Medical Exam,
Just a Few Health Questions.
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