If you are married with young children and make $75, 000 per year, how much term life insurance should you have?

Question: If you are married with young children and make $75, 000 per year, how much term life insurance should you have?

Determining how much term life insurance you should have as a married person with young children and an income of $75,000 per year can vary depending on a number of factors, such as your age, lifestyle, and financial obligations. However, a general rule of thumb is to have a life insurance policy that covers at least 10-12 times your annual income. Based on this, a term life insurance policy worth $750,000 to $900,000 could be a good starting point for you to ensure that your loved ones are financially protected in the event of your unexpected death. It is recommended to consult with a financial advisor or insurance agent to determine the exact amount of coverage that suits your specific needs and circumstances.

Rjwala

Rjwala is your freely Ai Social Learning Platform. here our team solve your academic problems daily.