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How Much Will This Cost You?
The answer depends on a few factors, like your age, health and lifestyle. Plug in your info to get an idea of how much you’ll need to budget for your life insurance premium.
You'll also need to pick a term length on the form because we onlyrecommend term life insurance. We never recommend whole life (aka cash value) insurance. Term life is way more affordable because it lasts for a set number of years (the term) and it doesn’t add investing into the mix. That’s the quick and dirty. If you want to know more about the differences between term and whole life insurance, you can check out this article.
How long of a term do you need?
Your policy should last until the people in your life no longer rely on your income—like when your last kid leaves the nest or when you and your spouse become self-insured. For most people, we recommend a term of 15–20 years.
How much coverage should you get?
We recommend getting 10–12 times your annual income. It gives your family enough time to get back on their feet instead of worrying about how to replace your income.
Is your situation unique?
Our normal recommendations work best for most people. But there are a few times when you might need to adjust those numbers.
For more help understanding the right amount of coverage for your situation, you can check out our cheat sheet or contact our trusted partner Zander Insurance at 833.703.2254.
