The fact that life insurance is important cannot be over-emphasized. but that is not to say that you should just buy any type of life insurance. You need to know how much coverage you need. A seeming simple answer to the question of how much insurance coverage one should have was the following:- Multiply your annual income by seven, Buy enough coverage that would replace the income that you expect to make between the time you are buying the policy and your retirement and Buy enough coverage to pay off your present debts. But that is not really the most accurate way of calculating how much insurance you need.

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