Q How much life insurance do I need?
There’s no set amount of life insurance that you should buy because everyone’s financial situation is different. But consider your needs in 3 key areas:
- Debt – including mortgages, car loans and any other financial obligations that would be a burden on your survivors.
- Expenses – such as funeral costs, private school or college for your children.
- Income – your survivors would need to maintain their current lifestyle in your absence.