How Much Happiness Can You Buy?

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Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites...

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UPDATED: Feb 25, 2020

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Would you be happy with an annual salary of $75,000? That’s the magical number researchers claim will make a person happy in their day-to-day life. Researchers at Princeton University found $75,000 to be the amount needed to improve people’s emotional well-being. Anything above that does not necessarily improve emotional well-being; however, incomes above $75,000 do have a positive impact on how people view their lives in general.

So basically, the more money people make, the more they believe their lives are going well. And water is wet.

So, of course, this made us wonder… How much life insurance could a person buy with a lump-sum of $75,000? Using QuickQuote’s extremely cool Term Life Insurance Coverage Amount Calculator (or TLICAC for short!), we came up with the following amounts of coverage.


Age & Gender

Rating Class/Term


Coverage Amount

45 Yr Old Male

Standard / 30-year



60 Yr Old Male

Preferred / 15-year



65 Yr Old Female

Standard / 10-year




And just for some more fun… How much term life insurance is a person be eligible to purchase based on an annual income of $75,000? For this question, we have to refer to the life insurance company financial guidelines for an answer.

Each company has guidelines for maximum coverage allowed, and they are typically based on a combination of factors. The primary factor for this is called the income multiplier. The income multipliers are based on the primary insured’s age. For example, ReliaStar Life Insurance Company will allow 25-30x annual income for an individual 20-30 years of age. So if our applicant is age 25, ReliaStar Life would calculate her maximum coverage amount as follows:

   Income of $75,000 x Income Factor of 30 = Maximum Coverage Available of $2,250,000 

While an annual income of $75,000 should make you an extremely happy person, in theory, it should also provide you with a significant amount of term life insurance coverage!

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