Click to Call
JT Insurance Services

26500 West Agoura Rd, Suite 509
Calabasas, CA 91302

Get Directions
How Much LIfe Insurance Do I Need?

Insurance Blog

How Much LIfe Insurance Do I Need?

While it is nearly impossible to isolate the exact amount of life insurance you need down to the penny, you can make a safe estimate if you take into consideration your financial situation and think about what your family will need in the coming years. JT Insurance Services in Los Angeles, CA can work with you to find the right amount of coverage for your needs.

What is Life Insurance?

Life Insurance is a policy where an insurance company agrees to pay a predetermined amount of money after the death of the insured party, assuming that the premiums are paid in full and up to date. Essentially, a life insurance policy provides peace of mind to the insured person because their loved ones will have financial protection in the event of their death. There are two categories of life insurance – whole and term. Term life insurance provides coverage for a specific period and is generally less expensive and easier to qualify for. Conversely, whole life insurance offers lifetime coverage and has an investment portion called the policy’s cash value. Additionally, you can borrow money against the account or even give up the policy for cash, but you are required to repay policy loans with interest for a loan. You will receive no death benefits if the policy is surrendered.

How to Find Your Ideal Coverage Amount?

Finding the right amount of life insurance coverage is relatively simple. Take your annual salary and multiply it by the number of years that you want to replace that income. To that figure, add your mortgage balance plus additional debts (Car payment, student loans, credit cards, etc.) and additional future needs like money for college and end of life care.

Give JT Insurance Services a call to schedule an appointment to learn about your various life insurance options. We proudly serve the Los Angeles, CA area and are happy to answer any questions that you have.

Servicing these states

  • Serving Californian’s by Californian’s for over 10 years

Our Trusted Partners

  • ACE
  • Aegis
  • AIG
  • Amtrust
  • Arrowhead
  • Atlas
  • Berkshire Hathaway
  • Bristol West
  • Burns & Wilcox
  • Chubb
  • California Mutual
  • CNA
  • Compwest
  • CSE
  • Employers Comp
  • First American
  • Foremost
  • GMAC
  • Grange
  • Guard
  • Hagerty
  • Hanover
  • Hippo
  • Infinity
  • Kemper Preferred
  • Kemper Specialty
  • Liberty Mutual
  • Mapfre
  • Mercury
  • MetLife
  • Metropolitan
  • National General
  • Nationwide
  • Pacific Specialty
  • Progressive
  • Safeco
  • State Fund
  • Still Water
  • The Hartford
  • Travelers
  • Zenith
  • Zurich