How much life insurance does your family need?
For educational purposes. Consult a licensed insurance agent.
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The quick rule: 10-12x your annual income. More precisely: calculate your family's living expenses, debt payoff, children's education costs, and subtract assets and existing coverage. Online calculators help with this estimate.
Term: pure protection, lower cost, 10-30 year terms. Whole life: investment component, permanent coverage, expensive. For most families, term + investing the difference makes more sense than whole life.
Life insurance should replace your income for the years your family would need it. If you have school-age children who will be independent in 10 years, you need 10 years of income replacement. Factor in Social Security survivor benefits.