Generally speaking, people need 6-10 times of their

current yearly salary for life insurance coverage. That includes all the life insurance you have, plus your savings and other assets (equity in your house, etc.). Considering your young child's care and college expense, and your mom's need for assistant in the old age, I would say that you need 10 times of your current yearly salary.(keep reading, more important information below)

A surviving spouse and a child who is younger than 16 year old can get social security benefit up to $30+k/year. I don’t know if a grand parent who is taking care of a under aged grand child will be eligible to get the same kind of benefit or not? You should contact your local social security office to ask this question. It would help a lot if your mom and your child can get the benefit.

Another way is: you can buy “accidental death and dismemberment insurance” through your work or directly from an insurance company. This kind of insurance is much cheaper than term life insurance. You should definitely check it out before your agent push you buying $1M term life insurance.

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• 回复：Generally speaking, people need 6-10 times of their -Applegate- ♂ (41 bytes) () 06/13/2008 postreply 13:35:40

• AD&D does not cover that. But it is a good way to get -偶行偶素- ♀ (29 bytes) () 06/13/2008 postreply 13:50:33