If you have people who depend on your income, you need life insurance. But how much? The answer is different for everyone, and the generic 10 times your salary rule barely scratches the surface.
The Real Way to Calculate Your Coverage
Instead of a one-size-fits-all multiplier, think about what your family would actually need. Add up: outstanding debts (mortgage, car loans, student loans), income replacement for 7-10 years, future expenses like college tuition, and final expenses. Then subtract existing coverage. The gap is your target.
Free: Utah Family Coverage Checklist
Get the 7 coverages every Utah family should have.
Why Utah Families Are Often Underinsured
Utah has the youngest median age in the country at 31.8 years and the largest average household size. That means more young families with more dependents. Yet many carry only basic employer group life insurance covering 1-2 times their salary. For a family with a mortgage, two kids, and college plans, that is nowhere close to enough.
Term vs. Permanent: Which One?
For most young families, term life insurance is the right call. It covers your highest-need years at an affordable price. A healthy 30-year-old can get a $500,000, 20-year term policy for $20-30 per month. Our specialists can walk you through the calculation in about 15 minutes and help you find the right policy at the best rate.
