One fundamental guideline is that the death advantage on your policy must equal seven to 10 times the amount of your annual income. However, like any rule of thumb, that isn't constantly particularly precise. Another method of looking at it: You need to determine what earnings http://connervmkm089.xtgem.com/rumored%20buzz%20on%20what%20is%20the%20difference%20between%20whole%20life%20and%20term%20life%20insurance you wish to attend to your partner or other recipients when you die (what is universal life insurance).
The resulting number is the shortfall you'll desire to fill with life insurance coverage. This interactive calculator can assist you website get to a number. Let's say the shortfall is $25,000 a year. A standard insurance coverage principle says to buy a life insurance policy that has to do with 10 times that amount, or $250,000 in this example.
