I am 36 year old healthy male, in the midst of buying into group, income as full partner 1.5-3M/year. Married, one child who is 4 years old.
I currently have 2M 20 year term policy. 500K group life insurance. Also, 800K policy where group is beneficiary to cover any buy out costs.
My wife does not work is 35 year old, no policies.
How do you determine correct amount of life insurance? I am consider getting a 1M term policy for my wife, but my agent is trying to sell me more for myself, which I am not sure I need.
Thank you for advice and guidance on this.
I currently have 2M 20 year term policy. 500K group life insurance. Also, 800K policy where group is beneficiary to cover any buy out costs.
My wife does not work is 35 year old, no policies.
How do you determine correct amount of life insurance? I am consider getting a 1M term policy for my wife, but my agent is trying to sell me more for myself, which I am not sure I need.
Thank you for advice and guidance on this.
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