A $1,000,000 life insurance policy is often considered a robust and substantial safety net, but whether it is "enough" depends entirely on your personal financial obligations, household income, and dependents. Financial advisors commonly suggest a rule of thumb multiplying your annual salary by 10 to 15 times. If you have a large mortgage, young children requiring future college funding, and a high-income household to replace, a $1 million policy might just cover the baseline, whereas smaller debts or dual-earner families may find it more than adequate.
1 votes
Marked as accepted