How the Coverage Amount
Affects My Quote
The coverage amount or death benefit is the amount of life insurance for which you are applying. If you are approved, this is the amount of money that your beneficiary will receive if you pass away during the period in which your life insurance is in place.
The amount of coverage for which you apply will directly affect the amount you pay for life insurance. The more coverage you have, the higher your life insurance premiums will be.
A good way to figure out how much life insurance you need is to use our Quote Calculator. Or you can multiply your yearly income about 8 to 10 times. This will give you a general idea as to how much coverage you should have. However, the amount you need may also be affected by outstanding loans, the number of children you have, and many other circumstances that could affect your family or business's financial stability if you were to die.
If you have any questions as to how much coverage you need, please call us at 1-800-823-4852 to speak with an experienced life insurance consultant.
