Guide
How much life insurance do you need?
An interactive tool explaining how to think through your needs: how many years of earnings to replace, outstanding obligations, education funding, and existing protections.
The standard approach: total up the earnings your family would lose, then subtract what you already have in coverage. Precision is not required, and it is not the point: term coverage comes in standard increments, and the aim is an amount sufficient to support your household during the critical period.
Coverage estimate
Calculation: (income x years) + debts + education costs − existing coverage, rounded to the closest $5,000. This serves as a starting framework, not professional financial counsel.
Why those inputs
Income years. Most financial advisors recommend replacing ten to twenty years of earnings; the appropriate span in your situation depends on when your dependents will become self-sufficient. Families in Temple City with young children tend to select the longer end of that range, since the expense of housing, schooling and childcare is heaviest when children are small.
Debts. Home loans represent the biggest obligation for most households. A death benefit sized to pay off the mortgage leaves survivors free to choose where to live, rather than forcing a sale due to monthly payments they cannot afford.
Education. Budget an estimated amount for each dependent child using current dollars. It is simpler to factor this into your coverage now than to purchase an additional policy down the road.
What you have. Liquid savings available for emergencies, plus employer-provided group life insurance. Group coverage generally terminates when employment ends, so many individuals factor only a fraction of it into their estimate.
Once you have an amount in mind, use the quoting engine to see prices for 10-, 15-, 20-, 25- and 30-year terms from all carriers. Going above your estimate is widespread practice, since the monthly cost increase is modest when you are young.