Q: How much life insurance do I need?
A: To answer this question, you need to examine the 4 main expenses involved in calculating this amount:
• Funeral Costs
• Mortgage Amount
• Income Replacement
Typically you will need 15-20 times your pre-tax income to cover all 4 expenses like you were still alive.
From here, your agent can help you decide whether to purchase term or universal life insurance to protect your loved ones.