How Much Life Insurance Is Enough?
One reason for choosing a life insurance policy is to figure how much your dependents will need after you’re gone. In order to choose the face value (the amount your policy pays if you pass away) of your life insurance you should consider the following factors and example:
Once you determine the required face value of your insurance company, we can assist you in researching what the right policy, for the right price, might be.
There may be additional people in your life who are important to you and you may wonder if you should insure them. As a rule, you should only insure people whose death would mean a financial loss to you. If you have a spouse or partner that's also a contributor to the family income, then it would make sense to go through the same exercise to determine the face value for his or her policy.