1. 3998 POINTS
    Matt Benore
    Founder, DenverWest Insurance Professionals, Inc.,
    Before we can really answer this question I would need to know how much life insurance you have in force.  The best answer I can give here now is determine how much you need, then take into account what you have in force now, then make up the difference with an additional policy or if the option is available,  increase your current in force policy.
    Answered on January 4, 2014
  2. 4249 POINTS
    Gary Lane
    President, Lane Independent Agency, Southern California
    Are you married? Do you have kids? Are they through college yet? Do you have a mortgage? Do you have other debts? When do you plan to retire? What savings do you have for retirement? Does your spouse work? This is just the beginning of a quality interview with an experienced Life Insurance Agent. You should have anywhere from three to ten or even twenty times your annual income, depending on the above factors and all your other needs. Most folks go with only three times their income, which is far from enough. You should be meeting with an agent who knows the right questions to ask  you. Gary Lane, Registered Representative and Agent, New York Life, 949 797 2424. Thank you.
    Answered on January 4, 2014
  3. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    You might want to consider purchasing a private policy instead of the optional life insurance offered by your employer. You may be getting the first $50,000 of life insurance at work for free, and the first $50,000 is usually a nontaxable benefit. But the amount beyond that, which is called "optional" life insurance, does not generally involve those perks. While the price may seem good, most life insurance policies offered through work do not stay that same price, and many end when you leave that job. If you are older or have developed a health condition when your employment ends, you may find that the prices are far higher than you could have locked in through a private policy while you were working.
    Answered on January 7, 2014
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