A simple guide to life insurance for Fishers

Fishers, Indiana (a fast-growing suburb of Indianapolis) has a demographic and economic profile that makes life insurance particularly relevant for many residents. Here are the main reasons why someone living in Fishers/Indianapolis would typically need life insurance:

1. High cost of living and housing

Fishers consistently ranks as one of the most expensive places to live in Indiana. Median home values are around $450,000–$550,000 (as of 2025), and most families have large mortgages (often 30-year terms). If the primary breadwinner dies, the surviving spouse would struggle to keep up with a $2,500–$4,000+ monthly mortgage payment without life insurance to pay off or subsidize the loan.

2. Young families with children

Fishers has one of the highest percentages of households with kids under 18 in the state (~40–45%). Most residents are in their 30s and 40s, raising young children. Life insurance replaces lost income so the surviving parent can:

- Keep kids in the highly rated Hamilton Southeastern or Fishers schools without moving

- Continue paying for extracurriculars, college savings (529 plans are very popular here), and childcare

3. Dual-income professional households

The area is full of tech, pharma (Eli Lilly), finance, and medical professionals who moved from higher-cost coastal cities or Chicago. Average household income is ~$130,000–$150,000, but lifestyles are built around two full-time salaries. If one spouse dies, the survivor often can’t maintain the same standard of living (private schools, Geist Reservoir homes, country club memberships, etc.) on a single income.

4. Significant consumer and student debt

Many Fishers residents carry six-figure student loans (especially doctors and engineers) and finance newer vehicles (Suburbans, Teslas, etc. are common). Life insurance prevents the surviving spouse from being crushed by these debts.

5. Limited extended family support nearby

A large portion of Fishers’ population relocated from out of state. Grandparents and other relatives often don’t live close enough to provide long-term financial or childcare help if a parent dies.

6. Estate planning and Indiana inheritance tax considerations

While Indiana repealed its inheritance tax in 2013, many higher-net-worth Fishers families still use life insurance (especially second-to-die policies inside irrevocable trusts) to provide liquidity for federal estate taxes or to equalize inheritance among children.

Bottom line: In Fishers/Indianapolis, life insurance isn’t just about “burial costs” — it’s primarily about protecting an upper-middle-class lifestyle, a large mortgage, college funding goals, and replacing a six-figure income for 15–30 years until kids are independent. Most financial advisors in the area recommend 10–20× annual income in coverage for families here, far higher than the statewide average.