Just married...where to start re: life insurance?

First, see what sort of employer-sponsored options are available to you. Many businesses offer 1.5X or 2X your annual salary for extremely modest premiums, and/or allow you to go a bit higher for a little extra cash.

Then, think of why you need life insurance: if your wife is self-supporting and you both have little debt, you may not need a huge policy. In my 2 professionals, decent retirement savings, no-kids household, we carry enough to pay off the mortgage and provide a 6-8 month salary cushion. Should one of us keel over, g-d forbid, the other one isn't going to quit working....nor would we want to do so.

Children, lots of community debt, major health issues that forecast a short working life, lack of significant retirement savings, etc may bump up your "needs".

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Get enough to cover the mortgage, plus 10%.

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I do this in term but instead of 10% I do 1-2 years salary. Can't have her and Jody living it up too good.

Never be worth more dead than you are alive.

currently, i'm enrolled in these at the company

Basic Employee Life
- 1X 1 Year salary

Voluntary Employee Life
- $250K Coverage

Unum Whole Life
- i have no idea what this is

Agreed. U don't need a lot of insurance before kids. On the other hand if you are planning to have kids you might consider locking in a 20 or 30 year policy now while your rates will be lower.

I have enough 20 year term life insurance to cover every dollar of debt we currently have (mortgage, student loans, vehicles, etc) as well as a roughly $100k cushion.

I also have 1 year of salary coverage through my employer.


My wife has way more coverage than me, but that's because her family is in insurance sales.

ETA: When we have kids, I will up it more.

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I would buy what would make your wife comfortable on yourself and maybe 5-10 years your wife's salary on her. Term of course. I wasn't going to purchase any for my wife and my agent convinced me to buy $250k. Well she got cancer the next year and lived for 12 years. Died a year ago. Obviously we could not buy anymore for her after the diagnosis. I'm am so thankful for having bought what I did. It's like a little security blanket when I'm feeling overwhelmed with all the Nannies and shite I have to pay for now.

Eta: in summary, buy more than you need if you plan to have kids while you are young and healthy.

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sorry for your loss, and thank you for the advice.