Why Life Insurance Matters

Life insurance exists to protect the people who depend on you financially. If you were to pass away unexpectedly, would your family be able to cover the mortgage? Pay for your children's education? Cover day-to-day living expenses without your income?

The right amount of life insurance provides your loved ones with a financial safety net during one of the hardest times they will ever face.

Common Methods for Calculating Coverage

There are several approaches to estimating how much coverage you need:

  • Income replacement method: Multiply your annual income by 10–12 years. This is a simple starting point.
  • DIME method: Add up your Debt, Income replacement needs, Mortgage payoff, and Education costs for your children.
  • Needs analysis: A detailed review of your specific financial obligations, assets, and goals — the most accurate approach.
The most accurate way to determine your coverage needs is a personal needs analysis. Brad offers this at no cost or obligation.

Types of Life Insurance

  • Term Life: Coverage for a set period (10, 20, or 30 years). Lower premiums, straightforward protection. Ideal for income replacement during working years.
  • Whole Life: Permanent coverage with a cash value component. Higher premiums but lifelong protection and a savings element.
  • Final Expense: Smaller policies ($5,000–$25,000) designed to cover funeral costs and end-of-life expenses. Easier to qualify for.
  • Mortgage Protection: Designed to pay off your mortgage if you pass away, protecting your family's home.

Factors That Affect Your Premium

  • Age — the younger you are, the lower your premium
  • Health history and current health status
  • Tobacco use
  • Coverage amount and policy length
  • Type of policy (term vs. permanent)

Locking in coverage while you are young and healthy is one of the smartest financial moves you can make. Premiums only increase as you age.

What Brad Recommends

As an independent agent, Brad works with multiple life insurance carriers including Aetna, Gerber Life, Royal Neighbors of America, and United of Omaha. He can compare quotes across carriers to find the best coverage at the best price for your specific situation.

Call Brad at (920) 251-4969 or request a free quote online to get started.