How much life insurance should I carry?

How much life insurance do I really need, and how can I determine the right amount of life insurance for me?

The right amount of life insurance for you depends on your personal situation, and your goals you want to accomplish with your life insurance policy.

This means you need to take into consideration your current savings, your financial responsibilities, outstanding debt, and the people who rely on your for financial support.

Life insurance agents used to recommend their clients purchase 7-10 times their annual income to have enough money to leave to their family to replace their income, if invested wisely.

However, today there's a term life insurance calculator you can use that will give you an instant, accurate estimate of your life insurance needs.

You just answer some basic questions and the calculator let's you know what your life insurance needs are based on your current personal situation.

NEW! Here’s How to Buy up to $500,000 of Term Life
Insurance without any Medical Exam,
Just a Few Health Questions.



Disclosure: Compensated Affiliate

How Much Life Insurance Do You Need?

How do you decide ow much life insurance you need?

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.

NEW! Here’s How to Buy up to $500,000 of Term Life
Insurance without any Medical Exam,
Just a Few Health Questions.