How Much Life Insurance Does Your Family Actually Need?

Most parents fall into one of two camps: they skip life insurance because it feels overwhelming, or they buy the first policy a salesperson offers without knowing if it's actually enough. Neither approach protects your family the way it should. Here's a simple way to think about it.

Start With the Real Question: What Would Your Family Need to Replace?

Life insurance isn't really about death — it's about income. If something happened to you tomorrow, what would your family need to keep living the life you've built for them? That usually includes your income for a set number of years, any debts you'd leave behind (mortgage, car loans, credit cards), and future costs like childcare or college.

Term vs. Whole Life: The Two Main Paths

Most families choose between two types of coverage:

• Term life insurance covers you for a set period — usually 10, 20, or 30 years — for the lowest cost per dollar of coverage. It's a strong fit for replacing income during your working and child-raising years.

• Whole (permanent) life insurance lasts your entire life and builds cash value over time, at a higher premium. It tends to make more sense for estate planning, final expenses, or leaving a guaranteed legacy.

A Simple Way to Estimate Your Number

A rough starting point many families use: add up 10 years of your income, your remaining mortgage balance, other outstanding debts, and future education costs for your kids — then subtract any savings or existing coverage you already have. That's not a formal quote, but it gives you a realistic ballpark instead of a guess.

You Don't Have to Figure This Out Alone

As independent brokers, we don't work for an insurance company — we work for you. We'll walk through your numbers, compare real options across carriers, and help you land on coverage that actually fits your family and your budget. Schedule a call whenever you're ready, or reach out with questions any time.