One standard guideline of thumb is that the survivor benefit on your policy must equal 7 to 10 times the amount of your annual wage. But, like how to cancel llc any guideline, that isn't always especially accurate. Another method of taking a look at it: Go to this site You require to find out what income you desire to attend to your partner or other beneficiaries when you die (what is whole life insurance).
The resulting number is the shortfall you'll wish to fill with life insurance. This interactive calculator can assist you come to a number. Let's state the shortage is $25,000 a year. A basic insurance principle says to purchase a life insurance policy that is about 10 times that amount, or $250,000 in this example.