1. 4330 POINTS
    Jerry Vanderzanden, CLU, ChFC
    Co-Founder, Coastal Financial Partners Group, California
    Ask a life insurance professional! There is no substitute for an experienced life insurance professional who can help you plan to have the right amount based on need and budget and can adjust the plan over time to meet changing needs.

    Most studies suggest many have no life insurance at all and, of those who do, many are underinsured. We often meet with clients who have less than their current annual income. Insurance companies generally approve coverage amounts up to 25X income or more (under age 45).

    There are many calculators online which can help such as this one:


    Calculators like these help prepare you for meeting with a life insurance professional.
    Answered on April 17, 2013
  2. 0 POINTS
    David RacichPRO
    Fountain Hills, Arizona
    If you have family, business associates or charities that depend on you and would suffer financially at your demise, then you should consider life insurance. The amount of life insurance is based on your total debt including your mortgage, future financial obligations like children’s education and retirement as well as charities that you want to see go on into perpetuity. Then add your human value, the total income form now until retirement or age 65. The total sum equals your life insurance need.
    Answered on July 6, 2013
  3. 624 POINTS
    Agent, WMH Consulting LLC, Fort Worth, Texas
    I recommend contacting an independent life insurance professional.By discussing the specific needs and budget you have to be covered by life insurance, you will be able to determine a coverage amount. Family financial/adjustment coverage,Mortgage, children's education, business considerations are but a few of the topics for discussion. Many companies offer a worksheet specifically for this purpose...
    Answered on August 12, 2015
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