Guide
How much life insurance do you need?
A simple estimator and the thinking behind it: replacement income years, debts, education, and what you've already got in place.
Start by listing what your family's expenses would be without your income, then subtract what's already covered. The goal isn't perfect precision—term policies are sold in round figures—but rather a number that would keep the household stable through the years that matter most.
Coverage estimate
Amount = (annual income × replacement years) + outstanding debts + education costs − existing coverage, rounded up to the nearest $5,000. This is a starting framework, not financial or legal advice.
Why those inputs
Replacement income years. Ten to twenty years is the customary window financial advisors suggest, but the precise number depends on how long your dependents require support. Families with young children in this region often opt for the longer timeframe given the peak overlap of childcare, housing, and education costs.
Loans and debts. Your mortgage is likely the biggest. Coverage sufficient to pay it off gives survivors the freedom to choose whether to stay, without financial pressure forcing the decision.
Schooling. Set aside an approximate budget per child using today's dollars. Including education in your coverage now is simpler than adding a second policy down the road.
Existing coverage. Include savings available to your family and employer-provided coverage through work. But remember that group plans usually terminate if you leave the job, so be conservative in counting that benefit.
Once you know your target coverage amount, the quote tool will show the monthly cost for that amount across 10-to-30-year terms and multiple carriers. Many people discover that slightly higher coverage costs very little extra per month, which is helpful to keep in mind.