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Total= Debt + Income + Mortgage + Education
Debt
Total monetary value of debt (student loans, credit cards, etc.)
Income
Income replacement for needed years ($30,000 x 10 years= $300,000)
Mortgage
Any mortgage balances you may have
Education
Anticipated price to pay your children’s tuition
Please note that all prices quoted are subject to change, including due to underwriting.
With the average U.S. household income hovering around $60,000 per year it's important to take into account the typical living expenses life insurance payouts can cover:
- The median cost of a home in the U.S. is $200,000, which equates to annual mortgage payments of at least $20,000.
- The average cost for college tuition inclusive of living expenses is about $25,000 per year.
- The average U.S. household has at least $6,000 worth of debt.
- The typical cost of assisted living is $3,500 per month, which equates to $42,000 per year.
- The average cost of a funeral in the U.S. is $10,000.
Things to consider:
Need help getting started?
Our customer support team is happy to answer any questions you may have. Call or text us at (415) 702-1844 or email hello@ethoslife.com.
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