Most families only need to buy enough life insurance to replace about three years of income.

Name: Most families only need to buy enough life insurance to replace about three years of income.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The statement is false. The amount of life insurance needed varies based on factors such as income, debt, and dependents. A general rule of thumb is to purchase enough life insurance to replace 10-12 times the insured's annual salary.

Most Families Only Need to Buy Enough Life Insurance to Replace