1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    The amount you want to budget for life insurance will depend on the importance it is to your survivors (would it be their sole source of income or just a token of your affection), how much income you make (the higher your income, the more life insurance it would take to replace your earnings in the event of your death), and the impact your life insurance expenditure would make on your quality of life (if it means giving up groceries, it is not worth it). 

    Looking at your full financial picture is helpful in budgeting for life insurance. You may want to talk about Annuities, IUL, Disability Insurance, and LTC considerations with your financial representative at the same time, or else you will be spending money here and there and may end up going over your budget by not coordinating these purchases. A one stop shop such as ours or others on the internet can be a good resource.
    Answered on April 29, 2013
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