Term Life Insurance for Families and Couples

It is never too early to make sure your family is protected. We all like to believe we’ll be around forever – and it’s difficult to think about the possibility of death when you’re young and just starting out. But – and it’s a big but – the inconceivable can happen and you’ll want to leave your young, growing family protected if it does.

There is no one answer to this question, as each family’s needs are unique. At Principled Life, make it quick and easy to get a personalized quote, but there are a few general guidelines in figuring out how much term life insurance your family would need if you were to pass away unexpectedly.

The general rule of thumb is to multiply your current yearly income by 10 and then add on any outstanding debts and estimated childcare and education costs. You might consider adding some extra cushion to cover your partner’s earnings for a year or two to give them the time and space to grieve without needing to immediately return to work.

You don’t need to have children to be a family. Young married couples who either don’t yet have kids or don’t plan to conceive also need to protect their family’s future. A simple 10, 20, or 30-year term life policy can give your family the peace of mind that comes with knowing everyone you love is protected no matter what.