Guide
How much life insurance do you need?
A calculator and the reasoning behind it: income years, debts, education, and what you already have.
A common method is to add up what your income replaces and subtract what's already in place. It's not exact, and it doesn't have to be: people buy term coverage in round numbers, and the goal is enough to keep the household running smoothly.
Coverage estimate
Estimate = income × years + debts + education − what you already have, rounded to the nearest $5,000. It's a rough starting point, not professional guidance.
Why those inputs
Income years. Ten to twenty years of income is the typical range; the right number depends on how long your dependents would need support. A household with young children in Thousand Oaks often picks the longer end because childcare, housing and education are expensive together.
Debts. Your largest obligation is usually a mortgage. When coverage pays it off, survivors can choose to stay in the home rather than being forced to sell.
Education. A rough estimate per child, in today's dollars. It's easier to include it now than to buy a second policy later.
What you have. Emergency savings available, and any coverage through an employer. Group coverage usually ends when employment does, so many people count only part of it.
Once you've chosen a number, the quote tool shows what that coverage costs for 10 through 30 years from each carrier. Buying more than your rough estimate is common because the cost difference at younger ages is small.