Life Insurance – The 7 Times Rule
The Seven Times Rule
Whether you’re considering buying a new insurance policy or you’re reviewing your existing life insurance coverage, a general rule of thumb is to buy an amount that’s equal to seven times your salary. This can help assure your family will have enough for future expenses. Keep in mind you may need more or less coverage based on your individual circumstances.
Annual Income |
Estimated Coverage |
| $50,000 | $350,00 |
| $75,000 | $525,000 |
| $100,000 | $700,000 |
