Dave Ramsey’s financial advice emphasizes debt-free living, clear budgets, and straightforward protection for the people you love. When people search for “Dave Ramsey-approved term life insurance,” they’re usually looking for **term policies that follow Ramsey’s core principles**: low cost, simplicity, high coverage while you need it most, and a strong, reputable insurer behind the policy.
What makes a term policy “Dave Ramsey-approved”?
* **Affordable premiums.** Term life is typically far less expensive than permanent policies for the same death benefit, which fits Ramsey’s goal of covering loved ones without undermining other financial priorities.
* **Simple structure.** Level-term policies (10, 15, 20, or 30 years) are recommended because the benefit and premium are predictable.
* **Appropriate duration and amount.** The goal is to cover the years when dependents rely on your income — mortgages, education, and other family expenses — then allow the policy to end when the need decreases.
* **Reputable carriers and transparency.** Choose companies with strong financial ratings and straightforward underwriting so you get what you expect without hidden costs.
Who should consider Dave Ramsey-style term life insurance?
* Breadwinners with spouses or children who depend on their income.
* New parents who want maximum protection at a low cost.
* Homeowners with a mortgage who want to ensure it’s paid if something happens.
* Anyone wanting focused, time-limited coverage without the cost or complexity of permanent life insurance.
Why Mintco Financial is the Best Place to Compare Term Life Insurance
Finding the right term life insurance isn’t about picking the first policy you see online — it’s about comparing options, understanding coverage, and making sure the insurer is strong enough to deliver decades from now.
At **Mintco Financial**, we provide:
* **Independent access to multiple carriers.** We’re not tied to one company, so we can shop for the best rates and coverage.
* **Fiduciary responsibility.** Our duty is to put your family’s needs first, not an insurance company’s sales quota.
* **Personalized recommendations.** We take into account your budget, family needs, and financial goals to find the right policy length and coverage amount.
* **Experience you can trust.** We’ve helped thousands of families nationwide compare and secure life insurance with transparency and confidence.
When you compare through Mintco Financial, you’re not just buying insurance — you’re gaining a partner who ensures you understand your choices and never overpay.
–How Much Term Life Insurance Does Dave Ramsey Recommend?
Dave Ramsey is clear and consistent when it comes to life insurance: **term life insurance is the only type he recommends**. His rule of thumb is that families should purchase a **policy worth 10–12 times their annual income**. The idea is simple — if something happens to you, your loved ones will have enough money to replace your income, pay off debts, and continue their lifestyle without financial hardship.
**Here’s how it works in practice: **
* If your income is \$50,000 a year → you should consider **\$500,000–\$600,000 in coverage**.
* If your income is \$100,000 a year → you should consider **\$1 million–\$1.2 million in coverage**.
* If your income is \$150,000 a year → you should consider **\$1.5 million–\$1.8 million in coverage**.
Ramsey also recommends choosing a **15- to 20-year level-term policy**. That means your premium stays the same throughout the policy, and your family is protected during the years when they depend most on your income — while you’re raising children, paying a mortgage, and saving for retirement.
By the time the policy ends, the Ramsey plan assumes you’ll be **debt-free, mortgage-free, and financially independent**, making life insurance no longer necessary.
Of course, every family’s situation is unique. Factors like your mortgage balance, the number and ages of your children, your savings, and college goals can all affect how much coverage you really need. That’s where working with **Mintco Financial** gives you the advantage: we’re independent fiduciary advisors who compare multiple top-rated insurers to find the right policy for your family — at the best price.