Question 1

How much coverage is enough?

Accepted Answer

A common rule of thumb is 10-12 times your annual income, but the right amount depends on several factors:

Outstanding debts (mortgage, loans)
Future college costs for children
Your spouse's income and earning potential
Current savings and investments
Final expenses and estate taxes

We provide personalized analysis to determine the appropriate coverage amount for your situation.

Question 2

What's the difference between term and whole life?

Accepted Answer

Term Life Insurance: Provides coverage for a specific period (10, 20, or 30 years). Lower premiums but no cash value. Best for temporary needs like mortgage protection.

Whole Life Insurance: Permanent coverage with guaranteed premiums and cash value that grows over time. Higher premiums but builds wealth you can borrow against.

The choice depends on your financial goals, budget, and coverage needs.

SecureGuard Insurance

Frequently Asked Questions

Get answers to common insurance questions from Washington State's trusted experts

How much coverage is enough?

What's the difference between term and whole life?