How much life insurance should I buy?
Experts don’t agree about how much life insurance the average consumer should purchase. During his 30 years in the business, TermLifeMax founder Brian Fife has delivered life insurance checks to many families when their loved ones have passed away.Here’s his perspective:
People tend to under-insure themselves with life insurance. My rule-of-thumb is that you should aim to purchase coverage that is 5-10 times your annual income. Term life insurance policies help keep the cost of coverage low, but in the end, it also doesn’t help to buy a large policy you can’t afford. Nobody benefits if you lapse the policy because it’s too expensive.
So take my rule-of-thumb as a starting point and input your details into our state-of-the-art quote engine. Then call us when you’re done and we can help you sort out the rest. Just like everything else in life, you cannot move forward without starting. Our experts are here to guide you through the process so you can make the final decision about what is right for you and your family.