Direct answer
It depends on the sum of your outstanding debt, the number of years you want to replace your annual salary, and the future education costs for your children. Financial experts typically recommend coverage totaling 7 to 10 times your annual income, but your specific debts and living expenses are the primary variables.
Standard life insurance needs analysis frameworks published by insurance industry consumer advocacy groups. For additional information about life insurance planning, see the National Association of Insurance Commissioners‘ consumer guide on life insurance.
What this means for you
It depends on the sum of your outstanding debt, the number of years you want to replace your annual salary, and the future education costs for your children. Financial experts typically recommend coverage totaling 7 to 10 times your annual income, but your specific debts and living expenses are the primary variables.
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This page is informational and not a coverage guarantee or quote.