How Much Is Enough?
Tony Ricci | CFP®
Americans have a combined $10 trillion in life insurance coverage.1 That’s an amazing sum, but consider this: It’s only about 72% of America’s roughly $14 trillion annual income, or what economists call gross domestic product.2 Just about any family coping with the loss of a breadwinner would find it difficult to get by on a one-time payment equal to 72% of the earner’s salary.