The amount of term life insurance coverage that is needed requires defining the financial needs of your loved ones. Generally, in the life insurance industry, it is suggested that a life insurance policy be equal to ten to twelve times your annual income. However, this does not mean that this amount is ideal for you since each person has a different budget and needs.
Our Term Life Insurance Calculator uses several factors such as income, debt, mortgage, loans, savings, among others, to determine how much coverage is necessary to protect the future of our loved ones.
You should be aware that you must purchase a term life insurance policy that covers at least the following expenses.
Replace your income to protect your spouse's financial future.
Mortgage payment or student loans
Pay for your children's college education.
Medical bills, funeral costs, and other final expenses.
If you are interested in learning more about your coverage options, please fill out our short application form
, which will put you in touch with one of our friendly advisors, who are ready to help you secure the financial future of your loved ones.