To Buy Term Insurance | How

A common rule of thumb is to multiply your annual income by 10 to 15 times .

Consider one-time expenses like weddings, a new home, or funeral costs, which can range from $6,000 to $7,400 .

For a more detailed estimate, add up D ebt (excluding mortgage), I ncome (years to be replaced), M ortgage (payoff amount), and E ducation (future college costs for children).