How much life insurance is enough?
If you have a family, many experts recommend that you need an amount equal to 10 times your annual salary. However, these ‘experts’ won’t be around to help out your family if they are wrong. Only YOU can determine what you would want your family to have. For this reason, and because life insurance (when purchased carefully) is extremely inexpensive , many people own larger amounts.
Related Questions
- Why is it better to have an irrevocable life insurance trust purchase alife insurance policy on the donor, rather than have the heirs themselves own a permanent life insurance policy with the premium paid by the heirs with gifts by the now- living donor?
- Are life insurance benefits considered part of a decedents estate?
- Do life insurance renewal commissions count as wages?
