Baystate Brokers
  Home     Get a Quote   Contact Us   Apply Online  
         
Life Insurance: Maximum Guidelines    

Most people are under the assumption that the amount of insurance they can request is an arbitrary figure and that the insurance company will issue whatever has been applied for. In reality, there is a maximum amount of insurance that an insurer will accept, unless there are special circumstances.

 

The purpose of life insurance is not to make the surviving beneficiary rich, but rather to ensure their standard of living is not negatively impacted as a result of death.

 

For those below the age of 60, the general rule is a multiple of one's current income, not taking into account potential salary increases, investment growth, inflation and other life changes.

 

For those over the age of 60, the general rule is have insurance equal to the individual's net worth.

 

The following information reflects general life insurance guidelines equal to the present value of potential future earnings which would be lost at the death of the insured.

   
       
Life Insurance Chart    
       
       
         
Calculate My Maximum    
   
Age:
     
Annual Income
     

Existing Insurance in Force:

*include group coverage through work

     
     
     
Maxiumum Available to Purchase  
     
     
     
   
         
         
© 2011 Baystate Brokers | (508)372-0644 | Contact Us |   Follow us on Facebook | Website Design by Cloud Technology Associates