How much life insurance do I need?
Common rule: 10-12× annual income, or enough to cover all financial obligations (mortgage payoff, kids' college, replace 10-15 years of income). Term life insurance for 20-30 years is typically the right product — vastly cheaper than whole life and matches the period when dependents need it.
More context
Common rule: 10-12× annual income, or enough to cover all financial obligations (mortgage payoff, kids' college, replace 10-15 years of income). Term life insurance for 20-30 years is typically the right product — vastly cheaper than whole life and matches the period when dependents need it. The exact answer depends on your specific situation — the numbers above are a strong starting point, but the right next step is to plug in your actual figures.
For a deeper analysis, use one of the related tools below — they take your specific income, debt, location, and goals as inputs and produce a tailored answer.