HOW MUCH COVERAGE DO I NEED?

Before buying life insurance, you should assemble personal financial information and review your family's needs.

There are a number of factors to consider when determining how much protection you should have. These include:

• Any immediate needs at the time of death, such as final illness expenses, burial costs and estate taxes.
• Funds for a readjustment period, to finance a move or to provide time for family members to find a job and ongoing financial needs, such as monthly bills and expenses, day-care costs, college tuition or retirement.

Although there is no substitute for a careful evaluation of the amount of coverage needed to meet your needs, one rule of thumb is to buy life insurance that is equal to five to seven times your annual gross income.