Best Answer

Simple, how long do you need the protection for and how much do you need? I recommend to everyone that if you are looking out more than 20 years, some portion of your protection should be Whole Life or Universal Life. Term is like renting a home as opposed to buying one. The longer you rent, the more you lose in the end. 4lifeguild You should consider your liabilities such as mortgage, debts, loans, estate taxes, business losses, etc. Then consider your future expenses such as college education fund for your children, financial security for your family in the event of your death, and the number of years they would need financial help. All these put together will give you an idea of how much life coverage your family would need, should you die an untimely death. The goal is not only to provide financial security for your family, but to leave them debt-free.

Online life insurance calculators are very helpful for calculating how much financial coverage your family would need. They will take into consideration your income, expenses, projected rates of inflation and interest, and the number of years you believe your family would need this financial security.

User Avatar

Wiki User

โˆ™ 2009-03-02 08:31:46
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How much term life insurance in dollars and length should one purchase?
Write your answer...
Related questions

Where can one purchase photography insurance?

At a place that sells insurance. Photography insurance is pretty much normal insurance. You should be able to purchase photography insurance where you normally buy your insurance.

What types of insurance should an individual purchase?

The types of insurance that an individual should buy is home insurance, car insurance, disability insurance, life insurance, health insurance and liability insurance.

Should you care about the cost of insurance?

Yes, as you will understand when you come to have to purchase insurance.

Should I purchase insurance when I travel for business?

Depending on your needs and financial situation, business travel insurance should be considered for your business trips. Many travel insurance companies have business specific coverage, but you are not legally obliged to purchase travel insurance.

Where can one purchase insurance for a Dodge?

You can purchase insurance for a Dodge by going to your local insurance dealer. Online you should look at websites such as Money Supermarket to get the best deal available.

Do I need insurance for a Bus Rental ?

The company you are renting the bus from should have the insurance. You do not need to purchase insurance from a separate company.

Where can one purchase cheap dental insurance?

To purchase cheap dental insurance one should visit insurance comparison sites such as Money Supermarket. Alternatively, get advice from the local doctor.

Should I purchase mobile home insurance?

Yes, you should definitely purchase mobile home insurance. Manufactured housing is particularly susceptible to damage in fires, storms, and other acts of nature.

What is wagering insurance?

Common misunderstanding about insurance. In gambling a Risk is created that did not exist prior to placing a bet. Under insurance, a risk exists whether or not an insurance policy is purchased. For example, the uncertainty of one's home burning exists independent of the purchase of insurance; the purchase of insurance should not affect the probability of loss Common misunderstanding about insurance. In gambling a Risk is created that did not exist prior to placing a bet. Under insurance, a risk exists whether or not an insurance policy is purchased. For example, the uncertainty of one's home burning exists independent of the purchase of insurance; the purchase of insurance should not affect the probability of loss

How much should you expect to pay for scooter insurance?

Scooter insurance typically is extremely cheap compared to regular car insurance. Where you may pay around 1200 dollars for car insurance a year you will only have to pay 200 dollars for scooter insurance a year.

Should everyone purchase flood insurance for their home and how do you know how much to purchase?

This obviously depends on your location, not only geographically but topographically as well. You should consult your insurance agent or other resources in your area to determine the best route for flood insurance.

Do you purchase international travel insurance when traveling?

You should purchase international travel insurance when travelling overseas. This will keep you and your possessions safe as you travel throughout the world.

When should you buy travel insurance?

If you are going to be taking an expensive trip, you should generally purchase your insurance at the time you make the deposit on your trip. Most travel insurance policies will not cover pre-existing medical conditions as a reason for cancelation, but many will waive that clause if you purchase within 14 to 21 days after deposit. So that you don't forget to purchase a week or two later and then miss out on this waiver, you should purchase the insurance at the same time as you book your trip.

How To Save Money On Trip Insurance?

If you are planning a vacation, you should purchase trip insurance so that you can recover some of your money if there is a problem during your trip, such as a canceled flight or a lost bag. Before you purchase trip insurance, contact your medical insurance company to see if you will be covered while traveling, so that you do not purchase extra medical insurance that is not necessary.

What is breakdown insurance, and should I purchase it?

You can find out more about mechanical breakdown insurance by going to

Is it safe to purchase insurance online?

It can be safe to purchase insurance online if the company is reputable and the site is secure. You should always check the websites references and whether or not it has a secure connection.

Under what circumstances would I need to purchase public liability insurance?

Public liability insurance is designed to insure the public that are goign to be visiting your business. You should always purchase this insurance the moment you decide to open a business.

Where could a 17 year old purchase cheap car insurance?

There are many places a 17-year old could purchase inexpensive car insurance. One should try getting quotes from Travelers, US Auto Insurance, and 21st Insurance.

How many days after buying a car do you have to purchase auto insurance?

You should not drive this vehicle at all on public roads without insurance.

Do I need to purchase liability insurance for my snowmobiles?

State farm offer insurance for all types of vehicles you should give them a call.

Who should purchase apartment renters insurance?

Every renter with valuable property in thier apartment should get renter's insurance for protection. Weigh the cost of insurance with the cost of replacing your property to decide if it is worthwhile in your situation.

What does malpractice insurance cover?

Malpractice insurance is not something a patient would purchase. Malpractice insurance is a product that the surgeon who performed the operation should possess. His insurance will cover any damages awarded.

Why should one buy dental insurance?

You should purchase dental insurance because health insurance doesn't typically cover teeth. Many common dental procedures cost well over $1000, so having insurance is a must.

Where is the best place to purchase American Express travel insurance?

"I would imagine that the best place would be the company's website. As long as you have all the neccessary documents, it should not be a problem to purchase insurance there."

Should I get jewelry insurance for my wife?

When you purchase expensive pieces of jewelry you can purchase riders for existing homeowners insurance policies. A rider will cover items on a piece by piece basis for a specified value. Check with your insurance company to see if this will meet your needs.