Life Insurance5 min read
How Much Life Insurance Should You Consider?
By Laurence Paolino, RN
There is no single number that fits everyone. A thoughtful framework can help you think through your responsibilities and priorities.
Start with responsibilities
- Income your family would need to replace
- Mortgage or rent
- Outstanding debts
- Children's education goals
- Final expenses
Consider what you already have
Savings, existing policies, and employer-provided coverage can all play a role. Employer coverage may not follow you if you change jobs.
Think about timing
Your needs may change as children grow, debts are paid down, or retirement approaches. Coverage can be reviewed over time.
Key takeaway: A conversation about your goals is often the clearest way to arrive at an amount that feels right.
