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Experts say you need 5 to 10 times your annual income in life insurance. In general, you should find your ideal life insurance policy amount by calculating your long-term financial obligations and then subtracting your assets. The remainder is the gap that life insurance will have to fill. 

The amount of annual income your beneficiaries would need upon you death.

The number of years your beneficiaries would need an annual income stream upon your death.

The amount needed to cover all final expenses upon your death. This includes funeral costs, medical expenses, probate fees, etc.

The total of savings, investments and other assets which may provide income for your family.


A general estimate of the amount of life insurance coverage you may need.
This Life Insurance Needs Analysis is intended only to provide a general estimate of the amount of life insurance coverage you may need.  This analysis provides only a snapshot of your current situation.  You should complete a new Life Insurance Needs Analysis at least annually, and whenever your relevant information changes.  The results of this analysis are based on your inputs and assumptions.  Changes to those items will produce different results.  

Neither Dakota Capital Life Insurance Company nor its representatives offer legal or tax advice.  Investors should consult their attorney or tax adviser regarding their individual situations.