In this case, Bill is a stay at home dad and Jane brings home the paycheck every month. So in this very simple example, Jane needs enough life insurance to replace that $75,000 the family needs should she prematurely. That's how much exposure they have now.

How much life insurance you need is directly tied to your reason for purchasing a policy. Read about a couple simple rules of thumb for determining how much life insurance you should buy and what type of policy is best.

If you want to create an inheritance or make a charitable contribution, buy enough life insurance to achieve those goals. If you have dependents, buy enough life insurance so that, when combined with other sources of income, it will replace the income you now generate for them, plus enough to offset any additional …

Use this life insurance calculator to help you decide how much life insurance you need. It figures the amount of investment capital your family will require at the time of your to pay for immediate expenses (funeral, bills, etc.) and also provide future income to sustain the household. Don't trust the commission-hungry life …

MassMutual's life insurance calculator can help you determine the right amount of coverage. Talk to our financial professionals today to explore policy options.

1. How much debt do you have other than for your mortgage? If you have any debt other than for your mortgage, that indicates that you are spending more than you earn. Are you adding to your debt each month? Are you paying it down each month? If you have debt, you'll have to buy more life insurance to pay it off.

Jun 19, 2017 – Furthermore, you may not be able to buy as much coverage as you need, leaving you exposed. Importance of Buying a Separate Life Insurance Policy It's for these reasons you should get an individual life insurance policy that you personally own, in addition to any group life insurance you have. Individual …