For example, if you earn $50,000 per year, you'd get a life insurance policy with a $500,000 death benefit. Some adjust this to be a 15x rule, multiplying their annual income by 15 instead of 10.
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Just curious what "rule of thumb" people would suggest for life insurance? Trying to decide how large of a policy I need. Details - already have an existing policy, 8 years left on the original 20 ...
Discover how term life insurance works, its benefits, and different types available, including level term, convertible, and ...