How much life insurance do I need?

Answer To determine how much life insurance you need, add up your family's short-term needs upon your death, such as final expenses and outstanding debts. Next, add up the long-term needs like mortgage pa... Read More »

Top Q&A For: How much life insurance do I need

How much term life insurance do you need?

According to Money magazine, a good rule of thumb is five to seven times your annual income (ten times if you provide the only income for your family). Consider what your spouse needs to pay for if... Read More »

How much life insurance do I need in Canada?

On One Hand: Income ReplacementThe personal finance website Moneysense's Canadian Capitalist section suggests a simple formula of income replacement. It argues that rather than worrying about debts... Read More »

How much term life insurance does a person need?

If you have a family to protect, you need to make sure you have sufficient life insurance coverage in place, but it can be hard to know just how much coverage you need. Deciding how much life insur... Read More »

Do i really need life insurance?

On One Hand: You May Not Need Life InsuranceIf you have no dependents, or are young and single, you probably don't need life insurance. Also, if you are of retirement age and have enough in savings... Read More »