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4 Questions to Ask when buying Life Insurance

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#2:. How much life insurance do I need?

Look at your current situation. The first thing you’ll want your insurance to do is take care of housing for your loved ones. Paying off a mortgage or providing years of rent can go a long way to helping ensure financial stability for survivors.

Then think about income replacement. A good rule of thumb says that life insurance should buy time so that a surviving spouse can focus on the family until the last child reaches age 25.

At a minimum, though, you should try to provide five or 10 years’ worth of salary so a spouse can get things in order and attain necessary education or job training.

There are many great tools, including the USAA Life Insurance Needs Calculator¹, to help you evaluate your requirements. You also could talk with a USAA financial advisor.


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