Direct answer
It depends on your current monthly living expenses, debt obligations, and how much income your household needs to maintain its standard of living if you are unable to work. Generally, experts suggest aiming to replace 60% to 80% of your gross income, though the exact amount depends on your specific financial liabilities.
Industry-standard personal finance planning guidelines regarding income replacement ratios. For additional information about recommended income replacement coverage, see the Life Happens insurance needs calculator.
What this means for you
It depends on your current monthly living expenses, debt obligations, and how much income your household needs to maintain its standard of living if you are unable to work. Generally, experts suggest aiming to replace 60% to 80% of your gross income, though the exact amount depends on your specific financial liabilities.
FARMER STOCKMAN
Protecting Your Future with Confidence
No pressure. No jargon. Just honest answers from advisors who genuinely care about your family’s protection.
This page is informational and not a coverage guarantee or quote.
