Protect Those Who Rely On You Most

Like shoes, life insurance is not a one-size-fits-all product.  Everybody's feet are different and so are their insurance needs. Click below to get your own personalized Life Estimate!

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Common Life Insurance Considerations

Not sure where to begin? Here are a few questions to consider to get you started.

Who do I want to protect?

Common answers include a spouse or partner and children, but your list may also include siblings, aging parents and more.

How much debt do I owe?

Your life insurance will want to be inclusive of your mortgage, auto payments, credit card debt, and any other loans you may have.

How long will they need support?

Take into account the ages of everyone who depends on your financial support.

How much do I have saved?

Factor in all of your savings and investments and how liquid they are—some investments like real estate cannot instantaneously be converted into needed cash.

Does anyone have specific needs?

This could include any disabilities or special needs. It's important to remember that some may need long-term support.

Specific items you want covered?

If you're planning on contributing to a child (or children's) college education or you want to help with your spouse or partner's retirement, you'll need to increase your coverage level.

How Much Life Insurance Do I Need?

We get it, life insurance can be daunting. But it doesn't have to be.

By using the Life Needs Analysis below, you can get a good grasp on how much life insurance you'd need to protect your family and loved ones. Still unsure? We're here to help answer any questions you may have and provide you with a free life insurance quote! The key is to start today.

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"I needed someone who could provide me with some direction during a time in my life that has many transitions! John and his crew were fabulous and made the process extremely simple!"

 

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"What an incredible and easy experience I had with G&G Independent Insurance. I was helped by Malik Ware. I recommend asking for his help. He was very insightful, detail-oriented, patient, and did a wonderful job of making me feel comfortable with the information I didn't understand. 5/5 highly recommend."

Ryan Parkey

How Do I Estimate My Life Insurance Needs?

Calculation #1

A common, but simple way to estimate how much life insurance you need to buy is to multiply your gross (before tax) income by 10 to 15. Also, if you use this calculation, you can add $100,000 to the amount for each child's college education expenses.

Calculation #2

Another option to get a rough idea of how much life insurance you need is to use this formula:

  • Sum up the immediate and future expenses your loved ones may incur if you were to pass. Expenses to include might be funeral costs, rent or mortgage, college tuition, etc.
  • Add up any financial resources, such as a spouse's income, savings, or investments, that your loved ones would already have in place.
  • Subtract your assets from the anticipated costs. The difference is the estimate of the life insurance you'd need.

40% of people with life insurance say they wish they had done it sooner in life. Get a free life insurance quote today!

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