How Much Life Insurance Do I Need?

Definition of "How much Life Insurance do I need?"

Every person has a different idea of what financial security means. If so, should happen to you, how much money would you family need? You should consider: - Your current debt. - Expenses your family can expect to pay after your death. - Your family needs. A general, rule of thumb to calculate your life insurance needs is to multiply your annual salary by seven.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Questions

Popular Insurance Glossary Terms

Coverage in the event that, while practicing the profession of druggist, an act or omission is committed resulting in bodily injury, personal injury, and/or property damage to a customer. ...

Periodic payments to an injured person or survivor for a determinable number of years or for life typically in settlement of a claim under a liability policy. Terms may include immediate ...

Quantitative measurement of the total costs (losses, risk control costs, risk financing costs, and administration costs) associated with the risk management function, as compared to a ...

Property acquired before marriage by gift, by inheritance, or bought with separate monies. ...

Act that provides new funding for the Bank Insurance Fund and enhances the safety and soundness of the financial system. The FDICIA includes the Foreign Bank Supervision Enhancement Act ...

Deductible, applied to every loss, expressed as a percentage of that loss. As the loss increases, the deductible amount increases. ...

Type of coverage in which an insured's own policy provides indemnity for bodily injury and/or property damage without regard to fault. In many instances it is difficult if not impossible to ...

Balance sheet and profit and loss statement of an insurance company. This statement is used by State Insurance Commissioners to regulate an insurance company according to reserve ...

Action by the owner of a cash value policy to relinquish it for its cash surrender value. Since the depression of the 1930s, companies have reserved the right to delay payment of a cash ...