Guide
How much life insurance do you need?
A calculator plus the thinking behind it: income years, liabilities, schooling, and existing resources.
The typical approach is to combine what your income would supply over time and reduce it by what already exists. It doesn't need to be exact—policies come in round figures, and accuracy matters less than choosing an amount to maintain household stability.
Coverage estimate
Formula = income × years + liabilities + education expenses − existing resources, rounded to $5,000 increments. Use this as a guideline, not definitive.
Why those inputs
Income years. Most estimates span 10–20 years of earnings; pick based on how long your family would require money. Households with young dependents in Simi Valley regularly select the longer range since child expenses, residence and tuition bills peak at the same time.
Debts. The mortgage is usually the biggest. Setting coverage to pay it off lets beneficiaries choose whether to remain in the home without budget pressure.
Education. Set aside a portion per dependent in present-day terms. Including this now is more convenient than purchasing a separate policy later.
What you have. Cash reserves and employer-provided coverage both count. Employer plans typically terminate with employment, so many include only a percentage.
Once you have a number in mind, the quote tool lets you compare what that sum costs across 10 to 30 years and all carriers. Buying above the estimate is typical since costs per month are modest for younger purchasers.