How much life insurance should an individual own?
As a "Rule of thumb" we suggest an amount of life insurance that is equal to 6 to 8 times your annual earnings. However, there are many factors that should be taken into consideration when determining the right amount of life insurance for you and your family.

some of these factors include:

• Other income sources (and amounts) besides your salary/earnings
• Whether you are single or married and if so what is your spouse's earning capacity
• The number of your financial dependents
• The amount of death benefits payable from Social Security and from any employer-sponsored life insurance plans
• Whether any special life insurance needs exist like: mortgage repayment, education funds, estate planning needs, etc.

Calculating the correct amount of life insurance to buy is not a simple process. We recommend contacting a David Ison Insurance agent in Austin to help you determine the right amount of coverage. As independent agents, we are unbiased advisors that will help you avoid buying too much, show you appropriate optional coverage for your needs and recommend an insurance company that will serve your best interests.