You should choose an insurance amount that will meet your needs, starting from $10,000 and going up to several millions of dollars.
For example, let’s say you contribute $50,000 a year to your family’s household income. As a rule of thumb, 10 times your salary is a reasonable amount to maintain your family’s lifestyle in the event of your death. That means you’re looking at $500,000, including any group insurance coverage you might have.
And if you want to make sure your home is paid off, you should choose an amount that corresponds to your mortgage, if it isn’t already covered with loan insurance.
Meet with a representative Open in a new window. to do a financial needs analysis and find out how much coverage you should buy.
Learn more about life insurance