How Much Life Insurance Do I Need?
Every person has a different idea of what financial security means. If so, should happen to you, how much money would you family need? You should consider: - Your current debt. - Expenses your family can expect to pay after your death. - Your family needs. A general, rule of thumb to calculate your life insurance needs is to multiply your annual salary by seven.
Popular Insurance Questions
Popular Insurance Glossary Terms
Policy of variable universal life insurance (VUL) under which, if the accumulation of the premiums paid at any point in time (minus policy loans, and withdrawals) equals or exceeds the ...
Mortality table, morbidity table that does not include current statistical experience. ...
Same as term Friendly Fire: kindling intentionally set in a fireplace, stove, furnace, or other containment that has not spread beyond it. Property insurance does not protect against damage ...
Institutional investment sold by life insurance companies that guarantees principal and offers withdrawal flexibility. This conservative investment, which can be used with a corporate ...
Measure of the rate at which policies are cancelled or allowed to lapse. The termination rate is a factor in setting premiums for group life and health policies. ...
Replacement for the earlier Family Automobile Policy (FAP) with these nine basic coverages: Coverage A Liability, The company pays damages for which an insured becomes legally obligated ...
Insurance that covers an indirect loss stemming from a direct loss by a covered peril to income-producing property. A building destroyed by fire represents a direct loss. Lost income ...
Nominal interest rate minus the rate of inflation. ...
Terms specifying obligations of an insured to keep a policy in force. For example, an insured must pay the premiums due; in life insurance, if death occurs, the beneficiary or the insured's ...
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