How Much Life Insurance Do You Need?
Rules of thumb exist that say you should be insured for between six and 10 times your annual earnings. But these ranges can be very wide and don’t take into account your unique situation. The best approach to determine how much life insurance you need is to engage in some financial planning. Start by answering the following questions: How much per year will your survivors need to live on, and for how many years? Expenses may be greater if, for example, you have young children