But, how do you go about determining your actual need for life insurance protection?
Well, there are a few ways to go about it.
You could use the 10-20 times your annual income method.
Or, guess.
But, why not use a term life insurance needs calculator to help you arrive at the exact amount of coverage you really need to properly protect your family?
A needs calculator will take into account your income, savings, debt and other financial considerations that are important in deciding just how much life insurance you need to accomplish your goal.
Whether you want to replace your income, provide for your child's college education, pay of the mortgage, or maintain your family's lifestyle (or all of the above), then using a life insurance calculator to help you decide your insurance needs is a good idea.
Here's a term life insurance calculator to help you out.