If you are shopping for a life insurance policy, you may be wondering how much life insurance you can get.
The maximum amount of life insurance someone may be able to purchase will depend on how much coverage the insurance company is willing to insure you for.
That will depend on several variables, including your income, and the amount of your financial responsibilities, among other things.
Of course, your budget may also limit the amount of life insurance you may be able to afford.
Usually, young adults with financial obligations and a higher income, may qualify to buy more life insurance than seniors with fewer financial responsibilities and a lesser need for a large amount of life insurance protection.
For example, someone in their 30's may be able to buy as much as 35 times their annual income in life insurance, while a 75 year old may be limited to a maximum amount of life insurance around 5 times their annual income.
However, this maximum limit on life insurance coverage may vary by insurance company.
Learn more about how much life insurance you can get.
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