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Assuming that you have chosen the max pension benefit (no survivor payment, no minimum payment term), then you need to buy enough insurance to make up for the lost pension benefit, when invested, after you die. Let's assume the insurance money is invested into a reasonable stock portfolio, for growth and income, and that you want this principal and the income to grow, for inflation. You would need a $24,000 death benefit for each $100/month of income you want to replace. I base this on research that has been cited in the past, using a 20 to 1 ratio of principal to income. If you decrease the ratio, you need less death benefit, especially if you continue to save.

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