Protect the family behind the mortgage

How Much Life Insurance Is Actually Enough?

Ken Coury

Founder, President & CEO, Coury Group

How much life insurance is actually enough? It’s a fair question — and the honest answer is that it depends on what your household is responsible for.

There isn’t a single number that fits everyone. The right amount isn’t a formula. It’s a picture of your household: what it costs to keep going, and what you already have in place.

A multiplier sounds precise. But it doesn’t know your household — it doesn’t know the mortgage, the kids, the debts, or what you already have. That’s why I don’t start with a number. I start with the responsibilities, and the number follows.

Start with the home

For most families, the home is the biggest responsibility. The question isn’t the sale price — it’s what it costs to keep the home: the mortgage, the taxes, the insurance, the upkeep. If the income that pays for it stopped, what would the family need to stay in the home they have?

Then the income

Next is the income itself. What does the household live on each month — not just the mortgage, but everything else: groceries, utilities, car payments, childcare, the rest of life. The point isn’t to replace a paycheck forever. It’s to give the family time and choices while they adjust.

Look beyond the mortgage

Then look beyond the mortgage. Children, education, debts, a parent you’re helping support — the responsibilities that don’t show up on a mortgage statement but still need covering. This is the part people skip, and it’s usually the part that matters most.

Count what you already have

Before deciding on an amount, look at what you already have. Coverage through work, a policy you bought years ago, savings set aside — it all counts. Work coverage deserves a careful look: it’s usually tied to the job, so it may not come with you if you change jobs.

Life changes, so the answer changes

The amount that was right five years ago may not be right today. Marriage, a new baby, a new home, a divorce — every major life change is a reason to look at the number again. The beneficiary, too.

There isn’t one right answer

There isn’t one right answer — and anyone who gives you a single number without asking about your household hasn’t done the work. The amount is a conversation, not a calculation.

If you want a place to start, the Mortgage Protection Checklist walks through the same questions: your mortgage, your income, what you already have, and what life has changed since you last looked. Or send me a message and we’ll talk it through together.

— Ken Coury | NPN: 21290624