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What is Average amount of Life insurance held by an insured household in the US?
Wiki User
∙ 14y ago
That question varies depending on who you talk to. The normal household is usually under insured. The recommended amount of insurance that a household should have is as follows
Main Bread Winner/s Enough to pay off all debts plus 10 times the annual income
Spouse Enough to pay off all debts plus ether 5 times annual income of Main Bread Winner if children and does not work, or 10 times Spouse's annual income.
These should both be term policies for a length of time to make sure children are out of the house. each should also have ether a $50k or $100k UL policy that covers them up to age 110 to 120 depending on the company.
You would also have the option to add a small children's rider to ether term policy
You can call and talk to the in house agents that I talk to when I am out in the field they are great Life & Annuity Masters (800)997-8661 ask for an in house agent
Life Agent Since 2005
Wiki User
∙ 14y ago
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