How Much Life Insurance Do I Need?
A quick starting point is 10–15× annual income. Then adjust for debts, savings, children’s education, and whether one partner could downsize expenses if needed.
Simple worksheet
- Income replacement (years × annual income)
- Debts to pay off (mortgage, loans)
- Education fund (per child)
- Emergency buffer (6–12 months expenses)
- Minus existing savings & coverage
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