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People say life insurance should cover 10 times your income, but as a financial adviser I can tell you that isn’t always enough

“I’m also 100% certain the common wisdom to purchase 10 times your income in life insurance coverage is leaving families at risk” writes Jeff Rose for businessinsider.com. Then again, there’s a lot to think about and make sure life insurance covers, and there’s really no “perfect” formula to determine how much life insurance coverage you should buy anyway.They may desperately want to stay home, but how much life insurance you have may make that decision for them.Buying 10 times your income in life insurance may be common wisdom, but I tend to believe this advice is outdated.Another reason to buy more life insurance than you probably need is the simple fact that life may change once you’re gone.
 
Source: businessinsider.com



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