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0.000391049315663712 0.000651748859439521 -0.000391049315663712 -0.00126004779491632 -0.00230284597001956 -0.00325874429719748 -0.0040408429285249 -0.00447534216815121
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4 Ways to Calculate Your Life Insurance Coverage Needs in 2024 [Yahoo! Finance]

AFLAC Incorporated (AFL) 
Last aflac incorporated earnings: 4/29 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.aflac.com
Company Research Source: Yahoo! Finance
However, buying too little can financially strain your loved ones when the death benefit runs out. While it's impossible to calculate your future needs perfectly, several strategies can help you estimate your needs to ensure your loved ones have enough coverage without you overpaying. This article explores a few methods for calculating your life insurance coverage, each varying in complexity and accuracy. 1. The 10X Rule The 10X income method is the simplest way to estimate your life insurance needs. It involves multiplying your current income by 10 to determine your total coverage needs. For example, if you earn $50,000 per year, you'd get a life insurance policy with a $500,000 death benefit. Some adjust this to be a 15x rule, multiplying their annual income by 15 instead of 10. While this results in a larger death benefit, it may work if you want to provide support for longer or account for periods of higher inflation. 2. DIME Formula The DIME formula factors your deb Show less Read more
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