When it comes to determining your life insurance needs, many insurance experts suggest you carry life insurance benefits equivalent to five to nine times your annual income.

At 5 times your annual income, you may cover your final expenses and some of your family’s ongoing living expenses.

At 9 times your annual salary, you may help your loved ones continue their lifestyle and provide for special needs in the future such as your children’s education.

But everyone’s needs are different. You may actually need significantly more or less coverage. Use this Coverage Calculator* to help determine your current life insurance needs.

CALCULATE VALUES

The estimated amount may be just the beginning! Ask yourself this… is there anyone else who depends on your income? Would you like to set aside funds to help your parents get the care they need as they grow older? Is there a child you’d like to help get a good start in life by helping with the down payment on a first home?

*The Coverage Calculator is a tool designed to help members estimate their insurance coverage needs. Herbert V. Friedman Associates is not responsible for calculation errors on part of the member or the function of the Coverage Calculator. APSIT members are encouraged to contact their financial advisor to determine the appropriate amount of life insurance coverage for their specific needs.

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