Calculate Your Life Insurance Needs

Life insurance is meant to help your family maintain their current lifestyle by replacing your income at the time of your unfortunate death. The amount of life insurance you will require is based on several factors, like your current assets, savings and investments, and how much earning power will be available for supporting your family in your absence. Once you compare that amount to your anticipated liabilities and expenses, then account for items such as future college tuition or paying off your mortgage, then you will have a general idea of how much life insurance you need.