The easy method of determining life insurance is based on the rule of thumb that a "typical family" will need about 70 percent of a wage-earner's salary for seven years.

Question

Quizplus · Accepted Answer

This is a commonly used rule of thumb for determining life insurance needs. However, it may not apply to all families and individuals should consider their specific financial situation when deciding on a coverage amount.

The Easy Method of Determining Life Insurance Is Based on the Rule