Is There A Limit On How Much Life Insurance I Can Purchase? 
Video Transcript : Hello , everyone . I 'm Steve Savant , syndicated financial columnist and host of the weekly online talk show `` Steve Savant 's Money : The Name of the Game . '' I 'm answering questions from insurancelibrary.com , and I got this question . It says , `` Is there a limit on how much life insurance I can purchase ? '' Well , let 's say I 'm going to purchase it on myself , and I need to be able to use financial justification . Financial justification simply means that I have to be able to verify and validate the reason I have coverage . And if I have huge income and I have a massive amount of assets and I 'm looking at a future date on which I think I will die based on my life expectancy , then I can go all the way up to those limits . Sooner or later , I 'm going to hit a limit because I will not be able to justify it . So , can you buy it on as much as you want ? The answer is no . You have to always base your thinking on what do I need to cover all my liabilities , my taxes , and transfer issues at death , and when do I think I 'm going to die . Those are the numbers I 'm looking for at whatever inflation rate of return that I use as my reference point . Well , that 's our consumer question for today . If you have any questions , just submit them to www.insurancelibrary.com . 