term life
2 questions
- Finance
How much life insurance do I need?
A common starting point is 10 times your annual income, but the more accurate answer comes from adding up what your family would actually need: income replacement, mortgage payoff, debts, and education costs, then subtracting savings and existing coverage you already have.
- Finance
Term vs whole life insurance: which should I get?
For most people, term life insurance is the right choice — at age 30, whole life costs roughly 15–18 times more than a comparable term policy, and for the years when you actually need life insurance, term does the job. Whole life makes sense in a narrow set of situations involving permanent coverage needs or estate planning.