# Life Insurance



## Matt. (Aug 26, 2007)

When looking at Life Insurance, how do you figure out how much you want it to cover you for, and for how long?

I thought you would pay it for the rest of your life?

I don't have a mortgage, currently renting () but if the worst ever happened, I need to be sure my partner and daughter are secure.


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## rizo (Jul 14, 2012)

you can put any figure you want on life insurance.

also you can have multiple policies as it is not an indemnity based policy.


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## Buck (Jan 16, 2008)

How much money do your family need to live on per year?

When we took ours out we did this then looked at how much our pensions would pay as a lump sum and as widow/er's pension then multiplied this by the number of years until our youngest was 20 (thinking they will be financially dependant until at least this age) 

The number we cam up with was quite large but we now have security that means should the worse happen the remaining parent can bring our boys up as we had set out as a couple. 

Hope that makes sense?


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## Derekh929 (Aug 28, 2011)

You get get a calculator on Invidion , or so many times your salary or based on affordability, also Family income benefit plans pay out set out each year till end of policy and cheaper


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