How much life insurance does a 40 year old need?

How much life insurance does a 40 year old need?

Another way to calculate the amount of life insurance needed is to multiply your annual salary by the number of years left until retirement. For example, if a 40-year-old currently makes $20,000 a year, they will need $500,000 (25 years × $20,000) in life insurance.

See also  Can you borrow money from Transamerica life insurance?