How Much Life Insurance Do You Need?

The right life insurance coverage is crucial to ensuring your family’s financial stability after you are gone. At Barry Insurance Group in Pearland, TX, we know you want to leave behind a legacy instead of monetary worries. We work with our clients to give them the right amount of life insurance coverage for their unique situation.

Simple Formula

The simplest way to determine how much life insurance you need is to multiply your annual income by a number from 6-10. If you choose six, for example, your life insurance would pay the equivalent of six years of your salary. This can give family members the time to become financially secure. 

Another way to determine how much life insurance you need is to multiply your yearly salary by how many years you have until retirement or until your income will no longer need to be replaced. If you only have children to consider, then you may want to use the number of years until they are of the age to care for themselves financially. 

Don’t Forget Debts

In addition to replacing several years of income, your policy should be enough to pay off your debts. These include mortgage and car loans, medical bills, and final expenses. Medical bills can be challenging to determine far in advance. If you have insurance, consider adding your plans deductible for medical expenses. It’s wise to add the amount of your debt to the number you have to replace your determined years of income.

Contact Barry Insurance Group 

Barry Insurance Group in Pearland, TX works with clients to determine the life insurance policy that’s right for them. Contact Barry Insurance Group and let us help you get the coverage you need today. 


  • I have been a customer for years. BIG is always there to answer my questions and get me the right coverage.
    Dan Broussard
Servicing these States
  • Texas
  • Louisiana
  • Oklahoma
  • Florida
  • Colorado
  • Tennessee
  • South Carolina
  • North Carolina
Latest News