Insurance - Head Matters
3. Life Insurance
b. How much life insurance do you need?
Determining how much insurance you need is simple. The first step is to decide how much money you’ll need to comfortably support the survivors. Think about how much money you need to maintain your current lifestyle and how many years you want to maintain that lifestyle. Many people also factor in paying off their mortgage or other large debts. A financial professional is a great resource to help you decide what the amount might be. See the Financial Planning Association website to find a financial professional to help you.
Be sure to shop around. Some insurance providers may offer policies that are much more expensive than other providers—for exactly the same coverage. It's important to choose an insurance provider you trust, but don't make the mistake of asking only one provider. Sometimes the right insurance company for your auto insurance or homeowners insurance isn't the right fit for your life insurance.