Joseph Insurance BrokerWe Medi Care
One of the most common questions Peter gets is: "How much life insurance do I actually need?" Here's a framework to get you to the right number.
| Factor | What to Include |
|---|---|
| D — Debt | All debts: mortgage, car loans, student loans, credit cards |
| I — Income | Your annual income × number of years your family needs support (typically 10–20 years) |
| M — Mortgage | Outstanding mortgage balance (if not already in Debt) |
| E — Education | Estimated college costs for each child |
A common guideline: carry life insurance equal to 10–12x your annual gross income. For a household earning $80,000/year, that's $800,000–$960,000 in coverage.
Peter does a complimentary needs analysis. Schedule 20 minutes and walk away knowing exactly how much coverage you need and what it will cost.