How To — Buy Term Insurance

Buying term insurance is a straightforward way to provide a financial safety net for your loved ones for a specific period, typically 10 to 30 years. It is often the most affordable type of life insurance because it only provides a death benefit and does not accumulate cash value. 1. Calculate Your Coverage Needs

A common rule of thumb is to multiply your annual income by 10 to 15 times . how to buy term insurance

The first step is determining how much your family would need to maintain their standard of living if your income were lost. Buying term insurance is a straightforward way to

For a more detailed estimate, add up D ebt (excluding mortgage), I ncome (years to be replaced), M ortgage (payoff amount), and E ducation (future college costs for children). Calculate Your Coverage Needs A common rule of