Calculating mortgage expenses to determine how much life insurance you need. As discussed in the previous articles in this series, an individual can get up to 30 times their annual income (depending on their age) in life insurance. That means if you’re earning $100,000, you can qualify for up to $3,000,000 of life insurance. The [...]
There are a couple of generally-accepted ways the insurance business helps customers determine how much life insurance they need. As for what you might be eligible for, the rule of thumb as an individual is that you can get up to 30 times your annual income in life insurance, which is up to $3 million [...]
As we discussed in previous articles on this same topic, the rule of thumb you need to remember as an individual is that you can get up to 30 times your annual income in life insurance. That means if you’re earning $100,000 you can qualify for up to $3 million of life insurance. While that [...]
After your house, what would you guess will be your biggest expenditure if you have children? Education. Consider these numbers: 7.1%. Average annual growth rate of the cost of college since 2000.¹ $11,541. Average cost for one year in a public college or university.¹ $44,443. Average cost for one year in a non-profit college or [...]
There are many reasons people use to NOT buy life insurance. If you are at that point of thinking about the purchase, take a quick glance at the objections we hear most often. Myth #1 - Life insurance is too expensive According to the 2022 Life Insurance Barameter study done by LIMRA, about 50% of [...]
The average amount of time an American's savings will last after the death of a spouse or partner can vary depending on the amount of income you need to replace, and more importantly, the amount of expenses you need to cover in the absence of your loved one. Generally speaking, many people expect their savings [...]
How much life insurance can a 40 year old get? As a rule of thumb, you can get up to 20 times your annual income. The multiplier method is the quickest way to understand how much you can get, and based on your specific financial situation, you can move that total up or down to [...]
35 is a prime age for many to start thinking more about life insurance. We have made it easy for you learn how much you need, and included your costs with no obligation!
If you fall somewhere in the average statistics listed above, then figuring out how much life insurance can be is very simple. The chart below shows different coverage amounts you may qualify for based on the multiplier method that covers the statistics listed above so you can see exactly what to expect including coverage benefits and pricing.
Our team has been serving Colorado Springs with life insurance services for over 22 years. Learn about our easy process and how you have complete control!