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	<title>New answer on: How Do You Determine How Much Term Life Insurance You Need?</title>

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		<title>By: Stan Cox II</title>

		<link>https://insurancelibrary.com/life-insurance/how-do-you-determine-how-much-term-life-insurance-you-need</link>

		<dc:creator>Stan Cox II</dc:creator>

		<pubDate>Fri, 16 Oct 2015 20:40:58 +0000</pubDate>

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		<description><![CDATA[Term life insurance is simply insurance against dying too soon. So the only purpose it serves is to provide income to beneficiaries in the event of the death of the insured if the insured should die during the term period that the policy is in force. So, how you would determine the amount of insurance needed would simply be to determine how much income will be needed by the beneficiaries if the insured dies before the end of the term.]]></description>

		

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		<title>By: Jim Winkler</title>

		<link>https://insurancelibrary.com/life-insurance/how-do-you-determine-how-much-term-life-insurance-you-need</link>

		<dc:creator>Jim Winkler</dc:creator>

		<pubDate>Mon, 21 Jul 2014 13:15:18 +0000</pubDate>

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		<description><![CDATA[That is a great question! The answer depends upon what you want the policy to do for you. If you are using it to cover a specific debt, like your mortgage, or a college loan, then it needs to be for roughly the amount of the debt. If it is for your life insurance, that amount is really up to you, and what you can afford. The rule of thumb is 8-10 times your current salary. Please be aware of exactly what you get, and don&#039;t get, with a term policy before signing the contract. I hope that helps, thanks for asking!]]></description>

		

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		<title>By: Gary Lane</title>

		<link>https://insurancelibrary.com/life-insurance/how-do-you-determine-how-much-term-life-insurance-you-need</link>

		<dc:creator>Gary Lane</dc:creator>

		<pubDate>Sun, 20 Jul 2014 21:41:46 +0000</pubDate>

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		<description><![CDATA[There will be a range of answers in the calculation. Are you married? Do you have kids? Are they going to college? Do you own a home? Have a mortgage? What is your income and prospective income over the next few years? Does your spouse have a career of their own, making a good income? How much do you participate in the family income? The broadest answer is from 2 to 10 times your annual income. Use these factors to calculate the more precise amount. thank you. GARY LANE.]]></description>

		

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		<title>By: Tim Wilhoit</title>

		<link>https://insurancelibrary.com/life-insurance/how-do-you-determine-how-much-term-life-insurance-you-need</link>

		<dc:creator>Tim Wilhoit</dc:creator>

		<pubDate>Sun, 20 Jul 2014 15:35:56 +0000</pubDate>

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		<description><![CDATA[The simple formula is take add up all of your debt. Your mortgage, auto loans, student loans, credit cards, etc. whatever would have to be paid. If you have children, the cost of their education. Then take ten times your income for your loved one to invest and replace your income with the interest off of the lump sum invested. For a &quot;stay at home&quot; parent you need to calculate the cost of replacing them, meaning child care, housekeeper, cook, someone to run errands. You know the things we take for granite. Add the totals along with the time period and you should be very close to having the face amount and term needed on your term life insurance. If you need more help contact a trusted life insurance broker to walk you through it. Almost all of us are free for our advice.]]></description>

		

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