How much life insurance do I need?

There is no cap to the amount of life insurance you can ask for. However, the amount of coverage you need depends on several factors, such as your health, income, debt, dependents, and age. Other factors to take into consideration would be whether you have any other life insurance policies, as well as the value of your current net worth.

You should ask yourself the following questions: 

1. Who depends on me financially?
2. How much of my income do my dependents need?
3. How much would my family need to cover my existing debt?
4. Does my employer provide me with enough life insurance?
5. Do I have any savings or investments?

Read other Q&As

• What are the different types of life insurance?
• What is life insurance underwriting?
• What is life insurance?
• When should I re-evaluate my life insurance coverage?
• Who should get life insurance?