Most families don't think about life insurance until something forces them to — a new baby, a mortgage, a scare at the doctor's office. And when they do get coverage, it's often based on a rough guess rather than an actual number. The problem is, "some coverage" and "enough coverage" are two very different things.
Here are five signs that your current policy — or lack of one — probably isn't doing what you think it's doing.
1 Your coverage was set once and never revisited
A policy you bought 8 years ago was sized for the life you had then — not the mortgage, kids, or income you have now. Life insurance isn't "set it and forget it." A quick review every few years (especially after a major life change) is the only way to know if your number still makes sense.
2 Your coverage is only tied to your job
Employer-provided life insurance is a nice perk, but it usually caps out at 1-2x your salary — far below what most financial planners recommend. And if you ever leave that job, the coverage typically doesn't come with you. Relying on it alone leaves a real gap.
3 You haven't accounted for your mortgage
If something happened to you tomorrow, could your family stay in your home without your income? For most households, the mortgage balance alone should factor directly into how much coverage makes sense.
4 You have young kids and no plan for future costs
Childcare, school, activities, eventually college — these costs compound over 18+ years. A policy that only covers today's expenses often falls short of what your family will actually need a decade from now.
5 You're the primary income earner — or you both are
Even stay-at-home parents provide enormous financial value (childcare, household management) that would be expensive to replace. Coverage shouldn't just be based on paycheck size — it should reflect everything your absence would actually cost your family.
So how much coverage is "enough"?
There's no single right number — it depends on your income, debts, family size, and goals. That's exactly the kind of thing worth talking through rather than guessing at. A quick, honest conversation is usually all it takes to find out whether you're actually protected or just think you are.
Not sure where you stand?
Let's run through your numbers together — no pressure, no obligation, just clarity.
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