Life Insurance Calculation
What report(s) will show me how the amount of life insurance is determined? I'd like to understand what I can do to reduce the requirement / exposure. I could not find this question in the current postings. Currently we are in our late fifties with no other dependents. The only debt we have is a fairly small amount on our mortgage. The Life insurance amount is 2.5x the mortgage amount. I would appreciate any help rationalizing the number (with reports) and seeing what I can do to reduce the insurance need. I am running the most current version of the software.
Thanks
RSS
The amount of life insurance is that necessary for the survivor to maintain the current standard of living. If you want less insurance, lower the survivor standard of living.
Best,
Dick Munroe
A life insurance recommendation can also go up if one spouse has a pension without a survivor benefit, or an annuity without a survivor benefit.