How Much Life Insurance Do I Need in Oklahoma?
Life insurance isn’t one-size-fits-all. The right amount of coverage depends on your family’s income, debts, and long-term goals. In Oklahoma, Anchor Financial Group helps families answer the big question: How much life insurance do I really need?
The Basic Rule of Thumb
A common guideline is 10–12 times your annual income. For example, someone earning $60,000 might target $600,000–$720,000 in coverage. But rules of thumb don’t always reflect real needs.
Factors That Affect Coverage
- Mortgage and debts: Coverage should pay off your home and major debts.
- Children’s education: Factor in tuition and related costs.
- Income replacement: How many years of your income would your family need?
- Legacy goals: Do you want to leave money to heirs or charities?
Oklahoma Family Example
A Tulsa couple with two kids, a $200,000 mortgage, and $60,000 annual income chose $750,000 in coverage. This amount ensures debts are paid, college funds are covered, and the spouse has financial stability.
Anchor’s Process
Anchor Financial Group provides a needs-based analysis—factoring in your unique debts, income, and goals—so you’re never over- or under-insured.
The right life insurance coverage brings peace of mind. Anchor helps Oklahoma families find their perfect number.