Roughing Out Your Life Insurance Needs

Estimated coverage, expressed as multiples of annual salary, needed to replace 75% of take home pay until insured would have reached age 65.*

Annual Pay
(before taxes)
Current Age of Person Insured
25 30 35 40 45 50 55
20,000 14 13 12 10 9 7 6
30,000 14 13 12 10 9 7 5
40,000 13 12 11 10 9 7 5
60,000 12 12 11 9 8 6 5
80,000 12 11 10 9 8 6 4
100,000 11 10 9 8 7 5 4
150,000 10 10 9 8 7 5 4
200,000 9 9 8 7 6 5 5

*Doesn't take into account any income survivors could expect from Social Security, investments or other sources.  More or less income could be needed, depending on individual family circumstances.

Source: Principal Financial Group


 

 

 

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