How Much Term Life Insurance Do I Need?
Build a needs analysis around income, debt, family obligations and existing resources.
The planning principle
Estimate the financial gap created by a death: income that disappears, debts and mortgage obligations, education or care needs, final expenses, and existing resources. A multiple-of-income shortcut can be useful for orientation but is not a substitute for a household needs analysis.
What to review
Start with the financial objective, then compare policy or contract provisions, affordability, guarantees, non-guaranteed elements where applicable, and the consequences of changing the plan later. Product availability and underwriting vary.
Use the complete planning guide.
The guide on the main topic page includes a worksheet and comparison questions you can use before a coverage conversation.
Get the Free GuideEducational information only. This page is not tax, legal, investment, or individualized insurance advice. Review actual carrier and policy materials before making a decision.