There are mainly 3 types of life insurance products that you can choose from: Term, which offers the more affordable fixed coverage for usually a term of 10 to 30 years. Then you have whole and universal life. Those plans are sort of like a permanent solution that build cash value, which is a really good thing while providing lifelong protection.

So to determine how much you need, you usually want to use this sort of rule of thumb: Take your income times 10 plus your debt, mortgage, school, and future obligations. Wrap all that up and say, OK, that’s how much life insurance I need to cover all of those debts.

We’d be happy to review your insurance coverage options with you! Give us a call at (702) 646-2082 or visit https://branchinsgroup.com.