Income replacement is the engine
If the household spends the paycheck, the policy has to replace years of it. A 35-year-old with 20 years of high-need parenting left is not a 55-year-old with a house almost paid. We pick a year-count on purpose: 15, 20, 25. Then we multiply. Then we discount anything the survivor already has — savings, existing group life, a pension that actually exists.
Group life at work is a bonus, not a plan. It disappears when the job does. We count it for this year. We do not build the house on it.
Debts that should die with you — and debts that should not
Mortgage, car notes, a HELOC on a Palmetto Bay house, student loans that are not discharged. Some debts the survivor can refinance. Some they cannot. We list them. A $550,000 mortgage on a two-income household is a different leftover than the same mortgage on one income.
Credit cards are usually a cash-need, not a reason to add $80,000 of permanent insurance.
Childcare, college, and the honest optional pile
If a stay-at-home parent would have to work, childcare in Miami-Dade is a real number. We add years of it. College is optional in the sense that the child can still have a life without a 529 filled by insurance. If funding school is a family promise, we add a lump. If it is a wish, we do not let it crowd out the mortgage.
Special-needs planning is not optional. That is a permanent conversation, often with a trust attorney, not a rider we hide in a term app.
Two earners, two policies
Insure both adults who produce care or income. A Palmetto Bay parent who does not take a W-2 still has a replacement cost. We quote a smaller term on the unpaid labor because the paid labor cannot also do pickup at 3:15. Families resist this and then agree when we price a year of after-school and a housekeeper.
Joint policies exist. We rarely lead with them. Two individual terms are cleaner when someone remarries, moves, or needs to convert later.
A worked example, not a promise
Say $140,000 household income, $480,000 mortgage, two kids under 10, $80,000 in savings, $50,000 group life. A 20-year income replacement plus the mortgage minus savings and group might land near $1.2–$1.6 million in term, split across two people. That is a sketch. Your file will move it. The sketch is why we do not sell $250,000 and call it done.
Start a life quote with ages and a target amount, or with no amount and we will propose one. An advisor calls. You can say it is too much. You should see the math before you say that.
Questions we get
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Same desk that wrote the guide. Auto and home quote online. Other lines, an advisor.
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