05/12/2026
WHAT LIFE INSURANCE SHOULD ACTUALLY COVER.
It’s easy to think of life insurance as a way to pay off your mortgage, but in practice, a more complete approach looks at the bigger picture:
Income Replacement: How many years would your household need to replace your income?
Child-Related Expenses: From child care to education, kids add long-term financial needs.
Partner Support: Could your partner maintain your shared lifestyle on their own?
Other Debts: Lines of credit, car loans, or other obligations
Future costs: Tuition, savings goals, or simply time to adjust financially.
The biggest factor is usually children and their future expenses: housing, food, clothing, education, and general living costs until they become financially independent.
That is why many advisors suggest a simple rule of thumb: Your mortgage balance plus 10 to 20 times your annual income. It’s not exact as a FNA - Financial Needs Analysis, but it’s a useful starting point. It is better to be a little over than being too short!
Ensure you are planning while protected! Apply for a large Term 10 policy right away and then we can spend time planning with peace of mind.
Whether you are 18 or 90, we can help you protect yourself and your family.
