Guide
How much life insurance do you need?
A tool to help you think through the coverage you need, plus the logic behind the calculation: income years, debts, education and what you already have.
The usual approach is to sum up what your income would have covered and subtract what is already in place. It is not precise, and it does not need to be: term coverage is bought in round numbers, and the goal is a figure that would keep your household steady for the years that matter.
Coverage estimate
Estimate = income multiplied by years you want to protect, plus debts, plus education costs − what you already have, rounded to the nearest $5,000. It is a starting point, not advice.
Why those inputs
Income years. From ten to twenty years' worth of income is the range most planners use; the right number depends on how long your dependents would need support. A household with young children in Glendora often chooses the longer end because childcare, housing and schooling costs peak together.
Debts. For most households, a home loan is the biggest debt to protect against. Coverage that would clear it lets survivors decide whether to stay without the decision being forced by cash flow.
Education. An estimate per child, in today's dollars. It is easier to include it now than to add a second policy later.
What you have. Bank accounts that could cover expenses, and group policies through an employer. Group coverage usually ends when the job does, so many people count only part of it.
Once you settle on a coverage amount, the quote tool shows what that amount costs for 10 to 30 years from each carrier. Buying a little more than the estimate is common because the monthly difference is small at younger ages.