Guide
How much life insurance do you need?
A tool plus an explanation of how to think about: how many years of earnings you want to replace, current debts, education costs you want to cover, and resources you have already assembled.
Sum up what your income supports, then subtract what is already covered. The answer will not be exact, and it does not need to be—policies are sold in round dollar amounts anyway. The goal is a number that would allow your household to weather the period that matters most.
Coverage estimate
Formula: (annual income × years of support) + outstanding debts + education costs − savings and existing coverage, rounded to the nearest $5,000. This is a beginning point, not a professional recommendation.
Why those inputs
Income years. Most insurance planners recommend between ten and twenty years of income replacement; your specific number depends on how long dependents would need financial support. Households with young children in Rancho Palos Verdes often aim for the upper range because costs for child care, housing, and school overlap during the peak earning years.
Debts. Your mortgage is typically the largest single debt. Insurance that covers your mortgage balance lets those you leave behind decide independently whether to stay; without the coverage, money flow may force a sale.
Education. Set aside a per-child allowance in today's money. Factoring it in now is simpler than buying a second policy down the road.
What you have. Include savings that could be used for expenses and any group life insurance through your employer. Remember that group coverage ends when employment does, so some people apply only a portion of it.
Once you settle on a target amount, the quote tool lets you compare pricing for 10 to 30 year terms across all carriers. Many people opt for slightly higher coverage than their estimate because the per-month cost is modest when you are younger.