What Features Do You Need?
Life insurance can adapt to most lifestyles and financial conditions. Compare these benefits:

• Accelerated death benefit. If you become terminally ill, this allows you to collect some death benefits before you die (often called a "living benefit").
• Killed In Action benefit. If you're killed in hostile action while on active duty, this benefit pays an amount in addition to your policy benefit.
• Double Indemnity or Accidental Death benefit. If you're killed in an accident, your loved ones will collect double your death benefit.
• Waiver of Premium. If you're disabled and unable to work, you won't have to pay premiums until you're back on the job.
• Guaranteed Insurability. This option enables you to buy more life insurance later on without a medical exam.

How Much Do You Need?

Some financial experts recommend you have life insurance equal at least five times your annual take-home income. Other experts suggest as much as 10 times your income. However, rules of thumb may not be appropriate with every family situation.

Insurance at a level of five times your income may be too much for a retired couple with a pension and no dependent children. Young couples with small children probably need higher benefits to even their financial responsibilities.

Finally, after you buy your life protection, you should review it again every two years or after any major life event, such as marriage, divorce, birth or the purchase of a home. These changes could affect the amount and type of life protection you and your family need.