One standard general rule is that the death benefit on your policy should equate to 7 to 10 times the amount of your yearly salary. But, like any Click for info general rule, that isn't always especially precise. Another way of looking at it: You need to figure out what earnings you wish to attend to your partner or other beneficiaries when you pass away (how much term life insurance do i need).

The resulting number is the shortage you'll wish to fill with life insurance coverage. This interactive calculator can help Check out here you come to a number. Let's say the shortage is $25,000 a year. A standard insurance coverage concept says to buy a life insurance coverage policy that has to do with 10 times that amount, or $250,000 in this example.