To determine the amount of coverage you need

The amount of money your family or heirs after your death, it is said to receive a death benefit. This site, like the one found at the proper amount of life insurance is an online calculator, can be helpful to learn. You can also use any number of sources, such as a compact disk image can get. The easiest way is to simply take your annual salary is multiplied by 8.

A more detailed method after your death, your family will incur monthly expenses add up to. Such as the death of a mortgage or a one-time cost of the bill and do not forget to include the cost of running. Take running costs and divide by .07. You pay a lump sum to indicate that approximately 7% per year to pay the running costs will want to pay. No amount of money that you will need to add a lump sum to cover the costs, and the amount of life insurance you need you'll have a rough estimate.

Useful, such as calculators and rough estimates, there are some things that they are not.

They can not provide you with a final answer. Calculator only you will be able to "hypotheticals," as recalculated and new results and generating new hypotheses input. Using these tools, and life insurance and other financial products on the workings of the self educating, but it can help you feel more comfortable as a New York Life agent to discuss your needs with experts feel.

The amount of coverage you need for your policy, you'll get an idea of ​​planning you can use any number of tools. Use our online calculator, for example, or use a formula to figure out how much you need. A simple place to start your annual income by multiplying the number of years left before retirement benefits kick in.