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Term Life Insurance Georgia


How Much Coverage Do You Need? (Dave Ramsey's 10-12x Income Rule)


Term life insurance in Georgia costs $30-$150/month for $1 million in coverage, depending on your age, health, and term length. For a healthy 35-year-old non-smoker, a 20-year $1 million term policy costs $40-$60/month. Dave Ramsey recommends 10-12 times your annual income in term life insurance to protect your family if something happens to you. If you're a Johns Creek, Alpharetta, or Milton family following Dave Ramsey's Baby Steps 3, term life insurance from Concierge Insurance Group is essential at Baby Step 3 (after paying off debt except your mortgage).

Your family depends on your income ($100,00-$300,00+ for most North Atlanta families). If something happens to you, term life insurance replaces your income so your family can maintain their lifestyle, pay off the mortgage, and fund college.

The Hidden Danger: Your Family Is One Tragedy Away from Financial Devastation

Here's what most families don't realize: if the primary breadwinner passes away without life insurance, the household faces an immediate financial crisis. The mortgage still needs to be paid, the kids still need college funding, and the surviving spouse may not earn enough to maintain the family’s lifestyle.

The Three Critical Gaps

  • ❌ No Life Insurance – Family has no income replacement
  • ❌ Too Little Coverage – $100k–$250k isn’t enough (Dave Ramsey recommends 10-12x your income)
  • ❌ Wrong Type – Whole life is expensive and builds little cash value (Dave Ramsey: "Buy term and invest the difference")

The result? The breadwinner passes away with no life insurance. The family loses their $150,000 income. They may not afford the mortgage, college, or basic living expenses, forcing them to sell their home and drastically reduce their standard of living.

What You Risk Without Term Life Insurance

Johns Creek Scenario

A Johns Creek family (husband 42, wife 40, 3 kids ages 8, 10, 14) had no life insurance. The husband earned $180,000/year. The wife stayed home with the kids.

The husband thought, "I'm healthy, I don't need life insurance yet." At age 44, he died suddenly of a heart attack.

  • Family income: $180,000 → $0
  • Mortgage: $3,500/month (couldn't afford)
  • College savings: $50,000 (not enough for 3 kids)
  • Life insurance: $0

With Term Life Insurance

All because he didn't have term life insurance ($80/month for $2 million would have protected everything).

  • Pay off mortgage: $400,000
  • College fund (3 kids): $300,000
  • Income replacement ($180k/year for 10 years): $1,800,000
  • Total needed: $2.5 million
  • $2 million would have saved the family

What he could have lost:

  • His family's home
  • His kids' college education
  • His wife's financial security
  • His family's lifestyle
  • His legacy

What Is Term Life Insurance and How Much Does It Cost?

What Is Term Life Insurance?

Term life insurance provides coverage for a specific period (10, 20, 25, or 30 years). If you pass away during the term, your beneficiaries receive the death benefit. If you outlive the term, the policy expires — by then, your family is often financially stable.

  • Death benefit: Tax-free lump sum to your beneficiaries
  • Income replacement: Replaces your income for your family
  • Mortgage payoff: Pays off your home
  • College funding: Covers your children’s education
  • Final expenses: Funeral and estate costs
  • Debt payoff: Pays off remaining debts

How Much Does It Cost?

Typical monthly premiums for North Atlanta families:

Age Gender Coverage Term Monthly Cost
35 Male $1M 20-year $40–$60
35 Female $1M 20-year $35–$50
40 Male $1M 20-year $55–$80
40 Female $1M 20-year $45–$65

Dave Ramsey’s 10–12x Income Rule

Dave Ramsey recommends getting 10–12 times your annual income in term life insurance. If you make $100,000, that means $1–$1.2 million in coverage to replace your income for 10–12 years.

Annual Income 10x Coverage 12x Coverage Est. Monthly Cost
$75,000 $750K $900K $30–$50
$100,000 $1,000,000 $1,200,000 $40–$65
$150,000 $1,500,000 $1,800,000 $60–$95

What Affects Your Cost

Increase cost:

  • Older age (50+ significantly higher)
  • Smoker (2–3x more expensive)
  • Poor health (heart disease, diabetes)
  • Risky hobbies (skydiving, racing)

Decrease cost:

  • Younger age (30s–40s = lowest)
  • Non-smoker, healthy weight
  • Excellent health and clean driving record
  • Longer term (20-30 years = better rates than 10 years)

💡 Tip: Lock in your rates now while you're young and healthy.

Who Needs Term Life Insurance in Georgia?

You Need Term Life Insurance If You... (Self-Assessment Checklist)

  • ☐ You have a spouse or partner — They depend on your income
  • ☐ You have children — They need support until adulthood
  • ☐ You have a mortgage — Need to pay it off if you die
  • ☐ You have debt — Student loans, car loans, credit cards
  • ☐ Your family would struggle financially without your income
  • ☐ You're following Dave Ramsey's Baby Steps — Term life is part of Baby Step 3
  • ☐ You want to fund your kids' college — $100k–$200k needed
  • ☐ You're the primary breadwinner — Family depends on your income

If you checked even one box, you need term life insurance.

Johns Creek & Alpharetta Families

Why Johns Creek and Alpharetta families need term life insurance:

  • ✓ High incomes ($150k–$300k+) — need 10x = $1.5M–$3.6M
  • ✓ Expensive homes ($500k–$800K+) to pay off
  • ✓ College expectations ($100k–$300k per child)
  • ✓ Lifestyle to maintain ($10k–$10k/month expenses)
  • ✓ Dave Ramsey followers — Term life is part of Baby Step 3

Typical Johns Creek family:

  • Husband: 40, income $200k
  • Wife: 38, stays home with kids
  • 3 kids (ages 6, 9, 12)
  • Mortgage: $600k
  • College needed: $300k (3 kids × $100k each)
  • Lifestyle: $12,000/month
  • Recommended coverage: $2–$2.5M, 20-year term
  • Typical cost: $100–$120/month

Milton & Alpharetta Dual-Income Families

Why dual-income families need term life insurance:

  • ✓ Both incomes are essential for family stability
  • ✓ Both need coverage — loss of either impacts finances
  • ✓ Mortgage requires both incomes ($3k–$5k/month)
  • ✓ College savings depend on both parents working

Typical Alpharetta dual-income family:

  • Husband: 40, income $150k
  • Wife: 38, income $100k
  • Combined income: $250k
  • 2 kids (ages 6, 9)
  • Mortgage: $750k
  • Recommended coverage:
  • • Husband: $1.5M–$2M
  • • Wife: $1M–$1.5M
  • Typical combined cost: $90–$130/month (both policies)

Stay-at-Home Parents (Milton, Johns Creek)

Why stay-at-home parents need term life insurance:

  • ✓ Childcare costs — $15k–$25k/year per child
  • ✓ Household management — $30k–$40k/year value
  • ✓ Working parent can’t do it all — would need to hire help

Dave Ramsey recommends: $250k–$500k for stay-at-home parents

Typical Milton family:

  • Wife: 35, stays home with 3 kids (ages 3, 6, 9)
  • Husband works: $160k income
  • Childcare: $20k/year (3 kids)
  • Household help: $10k/year
  • Total: $30k/year × 10 years = $300k
  • Recommended coverage: $400k–$500k
  • Typical cost: $25–$40/month

Dave Ramsey Followers (Baby Step 5)

When to get term life insurance in Dave Ramsey’s Baby Steps:

  • Baby Step 1: $1,000 emergency fund
  • Baby Step 2: Pay off all debt (except mortgage)
  • Baby Step 3: 3–6 months emergency fund
  • Baby Step 5: Get Term Life Insurance
  • Baby Step 6–7: Continue building wealth

Typical Dave Ramsey follower:

  • Debt-free (except mortgage)
  • 3–6 months emergency fund saved
  • Income: $120k
  • Recommended coverage: $1.2M–$1.5M (10–12x income)
  • Typical cost: $35–$60/month

Term Life vs. Whole Life: Dave Ramsey's Recommendation

Term Life Insurance

What it is: Coverage for a specific period (10, 20, or 30 years). If you die during the term, your beneficiaries receive the death benefit. If you outlive the term, the policy expires.

Dave Ramsey’s recommendation: “Buy term and invest the difference.”

  • ✓ Affordable — 5–10× cheaper than whole life
  • ✓ High coverage — $1M–$5M affordable
  • ✓ Simple — Pure insurance, no complexity
  • ✓ Temporary need — Covers you while kids are young or mortgage exists

Cons:

  • • Expires after the term (but by then, you’re financially secure)
  • • No cash value (but you invest the savings)

Example:

  • $1 million, 20-year term
  • Age 35, healthy
  • Cost: $25–$40/month

Whole Life Insurance

What it is: Permanent coverage that never expires, with a built-in cash value that grows slowly over time.

Dave Ramsey’s opinion: “Whole life is a terrible investment. Buy term and invest the difference.”

Pros:

  • • Permanent coverage (never expires)
  • • Cash value grows (but very slowly)

Cons:

  • ❌ Expensive — 5–10× more than term
  • ❌ Low coverage — Only $100k–$250k affordable
  • ❌ Poor investment — 1–3% returns (vs. 8–10% in mutual funds)
  • ❌ Complex — Fees, surrender charges, confusing terms

Example:

  • $250k whole life policy
  • Age 35, healthy
  • Cost: $250–$400/month (for only $250k coverage)

Dave Ramsey's "Buy Term and Invest the Difference"

The strategy:

  1. Buy term life insurance — $1M–$2M coverage for $30–$50/month
  2. Invest the difference — Put savings ($150–$300/month) into a Roth IRA or mutual funds
  3. Build wealth — Earn 8–10% returns instead of 1–3% in whole life
  4. Become self-insured — After 20 years, you’re wealthy enough to not need insurance

Example: 30-year-old earning $80,000/year

Option Coverage Monthly Cost After 20 Years Total Value
Whole Life $250,000 $300 $250k death benefit + $30k cash value $280,000
Term + Invest the Difference $1,000,000 $50 (insurance) + $250 (investment) $1M death benefit + $150k in Roth IRA $1,150,000

Dave Ramsey’s way is about 4× better in long-term value and flexibility.

Which Should You Choose?

For 95% of families: Term Life Insurance

  • ✓ You can afford high coverage ($1M–$3M)
  • ✓ It’s affordable ($25–$50/month)
  • ✓ You invest the savings and build real wealth
  • ✓ By the time it expires, you’re financially secure

Dave Ramsey: “I’ve never met a millionaire who got rich from whole life insurance.”

How Much Life Insurance Do You Need? (Dave Ramsey's Formula)

Dave Ramsey's 10x Income Rule

Simple formula: Annual income × 10 = Life insurance needed

Annual Income x10 Coverage x15 Coverage Monthly Cost (Age 30–40)
$50,000 $500,000 $750,000 $20–$30
$75,000 $750,000 $1.1M $25–$40
$100,000 $1M $1.5M $30–$45
$125,000 $1.25M $1.9M $35–$55
$150,000 $1.5M $2.25M $40–$65

Alternative Method: DIME Formula

The DIME Formula helps you estimate coverage using:

  • D: Debt
  • I: Income replacement
  • M: Mortgage
  • E: Education

Example: Johns Creek Family

  • Debt: Car loans $15,000 + Student loans $20,000 = $35,000
  • Income Replacement: $80,000 × 10 years = $800,000
  • Mortgage: $250,000
  • Education: 2 kids × $100,000 = $200,000

Total needed: $1.285M

Recommended coverage: $1.3M–$1.5M Term Life Insurance

How Long Should Your Term Be?

Dave Ramsey recommends a 15–20 year term depending on your financial goals and family situation.

15-Year Term

  • Kids are older (under 18)
  • 10–15 years left on mortgage
  • You're in your 30s–40s

20-Year Term

  • Kids are very young (under 10)
  • Just bought a home (30-year mortgage)
  • You're in your 20s–30s
  • Want coverage until retirement

Example: Alpharetta Family

  • Kids ages 4 and 7
  • 18 years until youngest is independent
  • Mortgage: 20 years remaining

Recommended: 20-year term (covers until youngest child is independent)

Best Term Life Insurance Carriers for Georgia Families

Zander Insurance (Dave Ramsey Endorsed)

Best for: Dave Ramsey followers

  • Dave Ramsey’s only endorsed life insurance provider
  • Independent agency (compares multiple carriers)
  • Term life specialists
  • Excellent customer service
  • No-pressure approach

Typical cost: $40–$120/month for $1M–$2M

Best for: Dave Ramsey followers, families following Baby Steps

Haven Life (MassMutual)

Best for: Fast online quotes, young families

  • Instant online quotes
  • No medical exam (up to $1M)
  • Fast approval — in minutes
  • Affordable rates
  • A+ rated (MassMutual)

Typical cost: $35–$100/month for $1M

Best for: Healthy 30s–40s, want fast approval

State Farm

Best for: Multi-policy discounts

  • Strong multi-policy discounts
  • Bundle with auto/home (save 10–20%)
  • Local agents for personal service
  • Excellent customer support

Typical cost: $40–$110/month for $1M

Best for: Families already with State Farm

Northwestern Mutual

Best for: High coverage amounts, financial planning

  • High coverage available ($5M–$10M+)
  • Comprehensive financial planning services
  • Excellent financial strength
  • Personalized, holistic approach

Typical cost: $50–$130/month for $1M

Best for: High-income families ($250K+), want financial planning

Protective Life

Best for: Affordable rates, healthy applicants

  • Very competitive pricing
  • Strong financial ratings
  • Flexible term lengths
  • Living benefits available

Typical cost: $35–$100/month for $1M

Best for: Healthy applicants, price-conscious families

As an independent agency, we compare all major carriers — including Zander Insurance and Dave Ramsey’s endorsed network — to help Georgia families find the best coverage at the best price.

Why North Atlanta Families Trust Concierge Insurance Group

We Follow Dave Ramsey's Principles

We're Ramsey Trusted. Our philosophy aligns with Dave Ramsey’s financial principles — we advocate for term life insurance (not whole life), the proven 10× income rule, and the principle to “buy term and invest the difference.”

We’re Independent (We Work for You)

As an independent insurance agency, we work for you — not the insurance companies. We compare top-rated providers including Zander Insurance, Haven Life, State Farm, Northwestern Mutual, and Protective Life to find the right coverage at the best rate.

We Serve North Atlanta Families

Our team specializes in helping families throughout Johns Creek, Alpharetta, Milton, and Duluth. We’re proud to serve households following Dave Ramsey’s Baby Steps — guiding you toward smart, affordable life insurance choices that support your family’s financial freedom.

Our Simple 3-Step Process

Step 1: Free Term Life Insurance Quote

What we need:

  • Your age, gender, and health
  • Income
  • Number of dependents
  • Mortgage balance
  • Desired coverage amount

Step 2: Customized Recommendations

We'll show you tailored coverage options based on Dave Ramsey's 10-12× income rule. You'll understand:

  • How much coverage you need (10-12× income)
  • What term length is right (20 or 30 years)
  • Term vs. whole life comparison
  • “Buy term and invest the difference” strategy
  • Transparent pricing from multiple carriers

Step 3: Complete Protection & Peace of Mind

Once your policy is active, you’ll enjoy complete peace of mind knowing your family is financially protected if something happens to you.

Our process is simple, transparent, and guided by Dave Ramsey’s principles — helping North Atlanta families build a secure future.

Frequently Asked Questions: Term Life Insurance

How much does term life insurance cost?

Term life costs $-$/month for $ million, depending on age and health.

  • Age 35, $1M, 20-year: $40-$60/month
  • Age 45, $1M, 20-year: $85-120$/month
  • Age 50, $1M, 20-year: $140-$200/month

How much life insurance do I need?

Dave Ramsey recommends 10-12 times your annual income.

If you earn $150,000, get $1.5M-$1.8M.

Should I get term life or whole life?

Term life. Dave Ramsey says: "Buy term and invest the difference."

  • Term is 10-20x cheaper
  • You can afford higher coverage

What term length should I get?

20-30 years.

  • 20-year if kids are 5-15 years old
  • 30-year if kids are under 5 or you want coverage until retirement

Do I need life insurance if I'm debt-free?

Yes. Even debt-free, your family needs income replacement, college funding, and mortgage payoff.

Does my stay-at-home spouse need life insurance?

Yes. Dave Ramsey recommends $500k-$1M for stay-at-home parents (childcare + household management value).

When should I get life insurance?

NOW. The younger and healthier you are, the cheaper it is. Lock in rates today.

What if I have health issues?

You can still get coverage, but it may cost more. We work with carriers that specialize in high-risk applicants.

Can I get life insurance without a medical exam?

Yes, up to $1 million with some carriers (Haven Life, others). Approval in minutes.

What happens if I outlive my term?

The policy expires. By then, you're financially secure (following Dave Ramsey's plan) and don't need life insurance.

Protect Your Family's Future Today

Get Your Free Term Life Insurance Quote

Protect your family with 10-12x your income in term life insurance.

  • ✓ Quotes from Zander Insurance (Dave Ramsey), Haven Life, State Farm, Northwestern Mutual
  • ✓ Coverage recommendation using 10-12x income rule
  • ✓ Term vs. whole life comparison
  • ✓ "Buy term and invest the difference" strategy
  • ✓ No obligation, no pressure, just education

📞 Talk to a Ramsey Trusted Insurance Specialist

Call: (678) -822-0950

Email: info [at] conciergeinsurancegroup [dot] com

We serve families in:

Johns Creek • Alpharetta • Milton • Duluth • Roswell • Cumming

Office: 3090 Satellite Blvd, Duluth, GA 30096