BE PATIENT

I get this question more than any other: "How much coverage do I need?"

Most people either guess too low (leaving their family exposed) or go too high (wasting money on premiums they don't need). Here's the simple formula I use with every client:

The 3-Step Coverage Calculator

Step 1: Income Replacement

Take your annual income × 10-12 years. If you make $60K/year, that's $600K-$720K. This replaces your paycheck so your family maintains their lifestyle.

Step 2: Add Your Debts

Mortgage balance + car loans + student loans + credit cards. You don't want your family inheriting your debt. For most families, this adds $150K-$300K.

Step 3: Future Education Costs

If you have kids, add $50K-$100K per child for college. Even if they're toddlers now — especially if they're toddlers now.

Real Example

• Income: $65K × 10 = $650,000

• Mortgage: $220,000

• Car loan: $18,000

• 2 kids' education: $150,000

• Total needed: ~$1,038,000

A $1M term policy for a healthy 32-year-old? Roughly $30-40/month. Less than most people spend on coffee.

The Biggest Mistake

Employer-provided life insurance (usually 1-2x your salary) is a start, but it's nowhere near enough — and you lose it if you change jobs. A personal policy stays with you no matter what.

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Every family's situation is different. I'm a licensed agent and I give free personalized quotes — no obligation, no pressure. DM me your age, family size, and general health, and I'll break down exactly what you need and what it'll cost.

I've been a licensed life insurance agent for years, and I see the same 3 mistakes over and over from parents who genuinely want to protect their families:

1. Waiting until "the right time"

There is no right time. Every year you wait, your premiums go up. A healthy 30-year-old can lock in a 20-year term policy for less than a Netflix subscription. At 40? That same policy costs 40-60% more. The best time to get coverage is before you think you need it.

2. Only insuring the breadwinner

If one parent stays home or works part-time, their contribution has massive economic value — childcare, household management, emotional support. If something happened to them, the working parent would need to replace all of that. Both parents need coverage.

3. Guessing at coverage amount

Most people either way over-insure (wasting money) or dangerously under-insure. A good rule of thumb: 10-12x your annual income, plus outstanding debts, plus future education costs for your kids. But everyone's situation is different — that's why a personalized quote matters.

I break down stuff like this regularly in my free community. If you're a parent thinking about life insurance (or already have a policy and aren't sure it's enough), come join and I'll give you a straight answer — no sales pitch required.