How much coverage should I buy?
To figure out how much life insurance you need, think about your financial obligations. Then, aim to take out a policy to match them. Another way to crunch the numbers is to multiply your annual income by 10, and use that as a rough estimate. Although you may have some life insurance through your job, it’s generally a good idea to have your own policy in addition to the life insurance provided by your employer. The policy through your workplace likely isn’t enough to meet your family’s financial needs and can end if you leave the job.