One standard general rule is that the survivor benefit on your policy ought to equal seven to 10 times the quantity of your yearly wage. However, like any general rule, that isn't always particularly precise. Another method of looking at it: You need to find out what income you want to offer your spouse or timeshare cancellation attorney other beneficiaries when you pass away (how follow this link to buy life insurance).
The resulting number is the shortfall you'll wish to fill with life insurance coverage. This interactive calculator can assist you get to a number. Let's state the shortfall is $25,000 a year. A standard insurance coverage principle states to purchase a life insurance policy that is about 10 times that quantity, or $250,000 in this example.
