Guide
How much life insurance do you need?
An interactive tool plus the logic: how many years of income, your debts, education, and what you've already saved.
The standard approach is to total what your income supports, then deduct existing resources. Exact precision isn't necessary: policies come in standard amounts, and the real goal is picking a number that would sustain your household through the critical years.
Coverage estimate
The formula: (annual income × years needed) + debts + education costs − existing assets, rounded to $5,000. This is a starting estimate, not personal financial guidance.
Why those inputs
Years of earnings. Most financial planners recommend ten to twenty years of income replacement; your optimal number hinges on how long dependents would require financial support. Families in San Jose raising young children often select the higher end of this range because childcare, housing and educational expenses cluster at their peak during these years.
What you owe. A mortgage is typically the biggest debt. Enough coverage to settle it gives your family the choice to stay or move without money pressure making the choice for them.
Schooling. A per-child estimate in current dollars. Including it now is simpler than buying additional coverage later.
What's already protected. Liquid savings you could use, and employer coverage if you have it. Employer plans typically end when employment ends, so it makes sense to assume partial or no credit for that portion.
Once you've arrived at a target amount, the quote tool lets you see the monthly cost for different carriers and different timeframes from 10 to 30 years. Many people choose slightly more than their estimate because the added monthly cost is modest when you're younger.