Your Money News Get a Printer Friendly Version With most opportunities in life, there is a cost associated with waiting or foregoing that opportunity.
Life insurance is no different.
While the window of time you are able to purchase a policy may be large, you will lose opportunities and incur additional costs the longer you wait to purchase your policy. For most people, their earning power represents their most valuable financial asset. Your human life value is a calculation based upon your earning potential and the amount of time you will have to earn a living. This calculation is key to determining the amount of life insurance coverage you should purchase because it reflects the amount of money your survivors would need to continue their standard of living. This number can be daunting because it can easily come out to be over a million dollars.