The amount of life insurance you may need will depend on your financial situation and what your goals are for your life insurance - what you want your life insurance to accomplish.
If
your present liabilities and future financial obligations are temporary - for 30 years or less, then term
life insurance is a consideration.
To determine the amount of life insurance coverage that's right for you, you need to total
your debts, your future financial obligations and your earning ability.
The sum total of
all these categories will give you an idea of the amount of life insurance coverage you need to
protect your loved ones or business associates.
Basically, consider what you want your life insurance to provide for, then look at your total debts, your total savings, your future earning power - how much you will earn, and what your family needs to live on if you are no longer there to provide for them.
A life insurance calculator can help you to quickly and easily determine how much life insurance you really need to properly provide for your family. You just answer some basic questions about your financial situation and the calculator instantly gives you an accurate estimate of how much life insurance to buy.
