One fundamental guideline is that the death advantage on your policy need to equal 7 to 10 times the amount of your yearly wage. However, like any general rule, that vegas timeshares for sale isn't always especially timeshare explained accurate. Another method of looking at it: You need to find out what income you wish to supply for your spouse or other recipients when you die (how life insurance works).
The resulting number is the shortage you'll wish to fill with life insurance coverage. This interactive calculator can help you arrive at a number. Let's state the deficiency is $25,000 a year. A basic insurance principle states to purchase a life insurance policy that is about 10 times that quantity, or $250,000 in this example.