How much life insurance coverage do I need?

Determining the ideal life insurance coverage amount depends on various factors including your financial obligations, dependents, and long-term goals. To calculate the coverage, you must consider factors like outstanding debts (such as mortgage or loans), future financial needs of your family (e.g., education), and daily living expenses. Assessing your dependents' financial security in case of your absence is crucial. Keep in mind your annual income, savings, and existing life insurance coverage. Amica's life insurance experts can assist you in evaluating your unique circumstances and provide personalized advice. By understanding your financial commitments and aspirations, Amica can recommend an appropriate coverage amount, ensuring you have sufficient protection to safeguard your loved ones' financial well-being in the unexpected event of your demise.