Guide
How much life insurance do you need?
A tool and the thinking behind it: how many years of income your family would need, the cost of major obligations, education funding, and any existing coverage you already carry.
A straightforward approach: add up how many years of your income your family would need and estimate the total cost of major obligations, then subtract any coverage already in place. It won't be exact, and it doesn't have to be—life insurance is sold in round increments, and the goal is a realistic figure that would support your household through the years when protection matters most.
Coverage estimate
Amount = (annual income × years needed) + major obligations + education costs − existing coverage, then round to a convenient number like $5,000 or $10,000. This is a starting calculation, not a professional recommendation.
Why those inputs
The typical planning range among financial professionals is 10 to 20 years of income, though the right duration varies based on how many years your dependents will require continued support. For families with young children living in El Cajon, the longer end of this range often makes sense since housing, childcare, and education expenses typically reach their peak simultaneously.
Debts. The primary debt for most households is a mortgage. Having coverage that could pay it off in full gives survivors the choice to stay or relocate without being pressured by financial constraints.
Future education. Budget a rough amount per child, stated in today's dollars. It's simpler to include this in your initial policy size than to apply for additional coverage later on.
What you currently have. This includes liquid savings and group term coverage through an employer. Many people only count a portion of their work-provided coverage since it ends when employment ends.
Once you've calculated a target amount, the quote tool allows you to see costs for different coverage levels and different term periods (10 through 30 years) from all available carriers. Many people purchase a bit more than they initially calculated, since the monthly cost difference is small when you're younger.