How Much To Budget For Life Insurance? 
The amount you want to budget for life insurance will depend on the importance it is to your survivors -LRB- would it be their sole source of income or just a token of your affection -RRB- , how much income you make -LRB- the higher your income , the more life insurance it would take to replace your earnings in the event of your death -RRB- , and the impact your life insurance expenditure would make on your quality of life -LRB- if it means giving up groceries , it is not worth it -RRB- . Looking at your full financial picture is helpful in budgeting for life insurance . You may want to talk about Annuities , IUL , Disability Insurance , and LTC considerations with your financial representative at the same time , or else you will be spending money here and there and may end up going over your budget by not coordinating these purchases . A one stop shop such as ours or others on the internet can be a good resource . 