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What are the main factors that help a person determine how much life insurance to carry?

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What are the main factors that help a person determine how much life insurance to carry?

Asked question is from Insurance subject

I have been asked this question in final exam.

Other related questions to my question are:-

What are the factors that determine how much life insurance will cost?

What factors determine if you need life insurance?

What are the two most popular ways to determine how much life insurance you need?

What are the key factors he needs to consider when purchasing insurance are the factors the same for both general and life insurance?

1 Answer

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Best answer
Correct answer for this question is: - Income. The amount on your tax return plays a significant role in your life insurance calculations.   

- Debts.   

- Savings.   

- Existing Coverage.   

- Family Size.   

- Future Needs.

The title of my answer is How Much Life Insurance Do You Need?

The heading of my answer can be Here are six things to consider.

 You can read more about by answer on Farm Bureau

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