Guide
How much life insurance do you need?
A calculator to work through the estimate, plus the thinking behind each piece: income years, debts, education, and existing coverage.
The standard approach is to estimate what your income would have supported, then subtract existing protections like savings and workplace coverage. It does not have to be exact; term policies are sold in round amounts, and the goal is simply a total that would sustain your household through the years when it needs protection most.
Coverage estimate
Estimate = annual income × years of support needed + debts + education costs − savings and existing coverage, rounded to the nearest $5,000. This is a starting point, not professional guidance.
Why those inputs
Income years. The typical range is ten to twenty years; the right choice depends on how long your dependents would need support. Families with young children in Orange often lean toward the longer end because the combined expenses of childcare, housing, and education peak during those years.
Debts. For most families, a home mortgage is the biggest liability. Coverage large enough to pay it off gives your survivors the choice to stay or relocate based on what they want, not on what they can afford.
Education. Budget something per child for college, in today's dollars. It is simpler to include it in your initial coverage than to buy a separate policy later.
What you have. Cash reserves available to your family, plus any group life coverage through your employer. Note that group coverage typically stops when you leave the job, so most people only count a portion of it.
Once you settle on a coverage amount, the quote tool will show you the monthly cost from each carrier for terms ranging from 10 to 30 years. Many people choose more than their estimate suggests because adding another $100,000 or $200,000 costs very little per month when you are younger.