How much life insurance do you need?
There are several ways to go about determining how much coverage you need. One simple method is to buy coverage equal to five to 10 times your annual salary, bonuses, etc. Following this rule of thumb, if you make $50,000 annually, you’d buy a policy between $250,000 and $500,000.
What types of life insurance are available?
Life insurance policies fall into two general categories: term and permanent.