Welcome! I’m Wallis and I'm here to help you decide the right coverage amount and term.
Let's start by answering a few quick questions.
Now, let’s get some numbers. No need to be exact here, a ballpark estimate will work!
First, two questions about you, as an individual.
Don't include income from a spouse or partner.
If your primary role is providing unpaid care, enter at least $60,000.
Just you, exclude any spouse's coverage.
Do not include coverage that you plan to drop if you were to buy a new life insurance policy.
We generally recommend excluding any life insurance from your work, too.
Great, now a few questions about your household. Include yourself and any spouse or partner.
Exclude your home equity.
Include your (and any spouse or partner's) brokerage accounts, retirement savings and bank accounts. We're just making sure we don't suggest too much insurance!
Next, just a few questions about your family and loved ones.
Tip: Include any children you plan to have in the next couple of years
Also include any children in your life who you support financially (niece, nephew, stepchild, etc).
Most parents assume their children will be financially dependent at least until age 21. Some parents plan to provide support beyond then (i.e. grad school).
If you don’t work for compensation (say you’re a stay-at-home parent), consider how many years into the future your family would need to hire a paid caregiver.