🚚 How Much Life Insurance Should a Truck Driver Carry?
What would happen if your rig stopped running tomorrow? Would your income keep flowing—or would your family be stuck with nothing but memories and bills?
This post breaks it all down with real numbers and real logic. No fluff, just a simple formula for figuring out how much life insurance a truck driver really needs.
🧮 Let’s talk about how to calculate the right coverage amount
You’re more than a CDL. You’re the income engine that keeps your entire household moving.
If something happens to you, your wheels stop—and so does the money. That’s why the amount of life insurance you carry shouldn’t be a random guess.
I knew a guy out of Charlotte. Solid driver. Passed suddenly and left behind no policy—just a GoFundMe and a bunch of shocked relatives.
That’s not protection. That’s leaving your people stranded. You deserve better—and so do they.
📦 Step 1: Replace Your Income (This is your freight lane)
Let’s start simple. If you’re running around 100,000 miles a year and grossing $80K, your family depends on that income.
Here’s the general rule: You want 10 to 15 times your annual income in coverage.
So if you make $80,000 a year, you should be looking at coverage between $800,000 and $1.2 million.
That gives your family breathing room—time to grieve, reset, and find new footing. Not a jackpot. Just dignity and peace of mind.
📉 Step 2: Pay Off Debts (Think of this as your load weight)
Next, let’s look at what you’d want paid off if something happened:
- Truck loan – maybe $45,000
- Mortgage – could be $150,000
- Credit cards and personal loans – say $20,000
Those numbers add up fast. And your spouse or loved ones would be left carrying that weight if you’re not covered.
So you want your policy to wipe out those debts, too.
🎯 Step 3: Provide for the Future (This is your drop-off plan)
Even after the bills are gone, life keeps moving. That’s why a smart policy includes some extra cushion:
- Funeral expenses – average $10K to $15K
- Education fund for your children – maybe $25K or more per child
- Emergency fund – enough to give your spouse some time to breathe and adjust
It’s not about spoiling anyone. It’s about giving your family options instead of obstacles.
📊 So what’s the right number for you?
Let’s run a quick example. Say you gross $80K per year. Here’s what your total might look like:
| Factor | Estimated Amount |
|---|---|
| 10x Annual Income | $800,000 |
| Debt Payoff | $215,000 |
| Final Expenses & Support | $75,000 |
| Total Recommended Coverage | $1.1 million |
That number isn’t just a guess—it’s protection for the road ahead.
And if that sounds expensive, don’t worry—term life is way more affordable than most truckers think. (We’ll break that down tomorrow.)
✅ Want help figuring out your number?
📥 Download the free “Trucker’s Life Insurance Coverage Worksheet” (PDF)
This isn’t some cookie-cutter form. It’s a simple, trucker-built guide that helps you calculate exactly what your family would need.
Or if you’d rather talk it through with someone who gets it—
📅 Book a free 30-minute call with Carlton — no pressure, no gimmicks. Just the facts.
🧠 Keep Learning — Don’t Stop Here:
- 👉 Top 3 Ways Truckers Can Lower Their Life Insurance Premiums
- 👉 Term vs. Whole Life Insurance: Which Works Best for Truckers?
- 👉 Do Pre-Existing Conditions Affect a Trucker’s Life Insurance Rates?
💡 Final Thought
You wouldn’t wait until your engine locks up to change the oil. Life insurance works the same way—get it in place before your family ever needs it.
