How much life insurance should I have?
One of the most common questions we get is: “How much life insurance should I have?” or “How much life insurance do I need?” This ranks up there with: “What kind of life insurance should I get?”
OK, how much life insurance? Go to the How much life insurance? page and you’ll go to a great page that explains how to figure that out in simple terms. The general explanation is that you should insure for your human life value which is the amount of earnings that you’ll earn during your lifetime. This is typically 15 to 20 times your annual income. So, the easy explanation is simply to multipy your annual gross income times 15 to 20 and there’s your amount of insurance. There are more complicated formulas but this will get you started. To learn more you can go the education center on the lifeinsure.com site.
