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Your top life insurance questions answered

Knowing What You Need to Know

How much life insurance do you need?

It's essential to have sufficient life insurance to replace your income, settle debts, cover funeral expenses, and provide for your family's future requirements. While everyone's financial situation is unique, here are some key expenses to consider:

  • Income: Experts suggest securing at least five times your salary in life insurance. For instance, if your annual income is $100,000, for a minimum of $500,000 in coverage.

  • Family expenses: Consider the costs your family would incur in your absence. This includes lost income and expenses related to childcare and other needs that would arise if a primary caregiver passes away.

  • College tuition: The average yearly cost for undergraduate tuition is approximately $14,200 at public institutions and can reach up to $28,100 at private schools.

  • Funeral costs: The average funeral can cost between $6,000 and $8,000.


By assessing these expenses, you'll gain a clearer understanding of what your loved ones will require.

68% of households carry some form of debt, including mortgages, car loans, and credit cards, which life insurance can help cover.

What type of life insurance policy is best for you?

The life insurance policy you require is influenced by several factors, primarily:

  • The duration of coverage you need

  • The amount of coverage required

  • Your budget


If you have substantial coverage for a defined timeframe like when your children are young, term life insurance is the most cost-effective option. For those seeking lifelong protection, permanent life insurance is a suitable choice. Comparing different providers will help you discover the most affordable life insurance options for either type.

Approximately 44% of U.S. adults either don't own life insurance or have insufficient coverage to meet their family's needs.

How to evaluate life insurance providers

Evaluating life insurance providers is straightforward. To identify the ideal life company for your needs:

  • Identify the type of life insurance you require and the necessary coverage.

  • Gather quotes from various companies, ensuring they offer the same policy type and death benefit.

  • Assess the quotes not only based on life insurance rates but also considering the company's reputation and financial stability.

  • Review any optional riders you'd like to include and check their costs before making your final decision.

The average U.S. household needs coverage equivalent to 10-12x the primary earner’s income to maintain their current standard of living.

Reasons for Couples to Purchase Life Insurance from 360LifeCoverage

  • Financial Security for Loved Ones: Ensure your partner and family are financially stable in case of unforeseen circumstances.

  • Affordable Premiums: We offer customizable plans to fit your budget without compromising coverage.

  • Comprehensive Coverage: Protect against a variety of risks, including accidents, illness, and loss of income.

  • Debt Protection: Prevent your spouse from being burdened by outstanding debts like mortgages, loans, or credit cards.

  • Child’s Future: Secure funds for your children's education and future milestones, even if you're no longer around.

  • Income Replacement: Provide a steady income stream for your partner if the primary earner is no longer present.

  • Customized Plans: Tailored solutions to meet your unique needs as a couple, whether you're newlyweds or building a family.

  • Tax Benefits: Enjoy potential tax savings while safeguarding your future.

  • Peace of Mind: Live confidently, knowing your loved ones are protected against life's uncertainties.

  • Trusted Support: Our dedicated team is here to guide you every step of the way, ensuring a seamless experience.

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