Guide
How much life insurance do you need?
A tool to build a coverage estimate and an explanation of each piece: how many years of income, what debts matter, education allowances, and existing resources.
The usual approach: take your annual income, multiply by the number of years you want to protect, add what you'd want set aside for education or other expenses, subtract savings and any group coverage at work, and round to a convenient number. Precision isn't the goal—the goal is a number that would keep your family secure through the critical years.
Coverage estimate
Quick formula: (annual income × years of protection) + debts + education costs − existing savings and group coverage, rounded to the nearest $5,000. This is a rough starting point, not personalized guidance.
Why those inputs
Years of protection. Most planners suggest a 10 to 20 year range, but your choice depends on how long your family would need income support. Fountain Valley households with young children typically pick a longer period because costs for childcare, housing and schools all peak together.
Debts. For most families, the biggest debt is a mortgage. If your family had life insurance covering what's owed, they could choose to stay in the home or move without worrying about payments they can't make.
Education. Set aside an estimate per child for future schooling costs, in current dollars. Including education now is simpler than shopping for additional coverage later.
What you have. Bank savings available to your family, and any life insurance provided by an employer. Employer coverage usually stops if you leave the job, so most people don't count all of it.
Once you settle on an amount, the quote tool lets you see the cost from each carrier for terms of 10, 15, 20, 25 or 30 years. Many people quote slightly more than their calculation suggests because the extra monthly cost is modest when you're younger.