One basic rule of thumb is that the survivor benefit on your policy must equate to 7 to 10 times the amount of your yearly salary. But, like any rule of thumb, that isn't constantly especially precise. Another way of taking a look at it: You need to determine what earnings you want to offer your spouse or other recipients when you pass away (what is life insurance).
The resulting number is the shortage you'll want to fill with life insurance coverage. This interactive calculator can help you reach a number. Let's state the shortfall is $25,000 a year. A standard Browse around this site insurance coverage concept states to purchase a life insurance policy that has to do with 10 times Click to find out more that amount, or $250,000 in this example.
