Add the obligations you want covered

Think in dollars and years. Estimate how much income survivors would need and for how long. Add a mortgage or rent transition, other debts, education goals, childcare, caregiving, and final expenses.

  • Income replacement
  • Mortgage and other debts
  • Education or dependent care
  • Final and transition expenses

Subtract resources already available

Include savings specifically available to survivors, existing individual coverage, and employer coverage you reasonably expect to keep. Be cautious with workplace insurance because it may change when employment changes.

Test the premium against real life

A policy only protects your family while it remains in force. Compare a few benefit and term combinations, check what is guaranteed, and choose a premium that fits the household budget over time.

Review after major changes

Revisit coverage after marriage, divorce, a birth or adoption, a home purchase, a major income change, business ownership, or a beneficiary’s changing needs.

Official sources and next steps

Use current official information and plan documents for final decisions.