One standard general rule is that the survivor benefit on your policy must equate to seven to 10 times the amount of your annual wage. However, like any guideline of thumb, that isn't always particularly accurate. Another way of looking at it: You require to figure out what earnings you wish to attend to your spouse or other recipients when you die (what Click here to find out more is universal life insurance).
The resulting number is the deficiency you'll desire to fill with life insurance. This interactive calculator can help you arrive at a number. Let's say the shortage is $25,000 a year. A standard insurance principle says to purchase a life insurance policy that has to 9009 carothers pkwy franklin tn do with 10 times that amount, or $250,000 in this example.
