At Bayshield Insurance, serving the greater San Jose, CA area, we help individuals select and purchase the life insurance products that are best for them. Life insurance can help to pay for your final expenses, as well as provide your family with money, as they will no longer have your income coming in. One of the questions that we are often asked is how much life insurance is ideal. There are many factors that need to be considered when determining how much life insurance you should have.

Here are some of those factors:

How Much Debt You Carry

You should always consider the amount of debt you have, including car debt, student loan debt, home debt, and credit card debt. You want to ensure your life insurance policy will cover all your debts if you pass away. 

How Much You Earn Now and Are Projected to Earn In the Future

Another factor to consider is how much you earn now and how much you are projected to earn in the future. Your family is likely reliant on this income, and the amount you make times the number of working years you have left may help to give you an idea as to how much income your family will lose and may need to live the same quality of life should you pass away. 

Contact Us Today

Determining how much life insurance coverage you should carry is not always straightforward, and there are many different things that need to be considered. If you are in the market for a life insurance policy in the greater San Jose, CA area, Bayshield Insurance can work with you to determine how much coverage you need and to help find you the policy that best protects yourself and your family.