1. 4330 POINTS
    Jerry Vanderzanden, CLU, ChFC
    Co-Founder, Coastal Financial Partners Group, California
    Conventional methods center on a capital needs analysis (how much do I need as a lump sum at my death to create an income for my family). Other methods look at Human Life Value or variations on these methods.

    Ask a life insurance professional to provide a customized analysis for you and your family.

    For a high level view, you can run some numbers yourself. There are a wide variety of online calculators available such as this one:


    Online calculators can help you visualize the need and better prepare you for a planning discussion with your agent who will help you ensure you have the right amount of life insurance.
    Answered on April 13, 2013
  2. 1575 POINTS
    Christopher Lawrence
    Insurance Broker | Financial Consultant, Lawrence Insurance Consulting, Southern New Jersey
    Well stated, calculators will give a person a ball park figure however whenever a transfer of wealth is intended to maximize the overall value of the amount being transferred one must assess any possible issues that may trigger unnecessary taxation devaluing and counteracting the whole purpose of the policy in the first place.
    Answered on April 14, 2013
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