Determining Amount of Insurance Needed

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How much insurance coverage do I need?

Determining Amount of Insurance Needed

James Hunt, insurance expert at the nonprofit Consumer Federation of America, recommends that a breadwinner carry life insurance equal to at least six to eight times his or her salary. Use the bigger multiplier if you do not have group life insurance through your employer. Use the smaller multiplier if you have group life insurance equal to at least two times your salary.

   

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