How Much Life Insurance Coverage Do I Need?

If you are shopping for life insurance one of the most important things to consider is how much life insurance you need to protect your family.

The right amount of life insurance depends on your personal situation and finances, as well as, your goals.

Some insurance companies and experts recommend 10 times your annual salary.

That way your beneficiary could invest the life insurance proceeds and live off of the return on your investment. That used to be one approach to life insurance planning.

Today, there are life insurance needs calculators available online that offer you the chance to answer some basic questions about your money and finances, and get an instant, accurate estimate of your family's life insurance needs.

By finding out how much life insurance you really need you get the amount of protection your family deserves, while not paying for more than is necessary.

Here's a life insurance needs calculator to help you determine how much life insurance is right for you.