Guide
How much life insurance do you need?
A tool for calculating your coverage need, plus an explanation of the four main factors: income years, current debts, education funding, and what protection you already have.
The standard approach: calculate what your income could have covered over time, then subtract what's already in place (savings, group insurance). This gives you a rough number—and that's fine. Coverage amounts work in round figures, and the goal is simply enough to keep your family financially stable through the years ahead.
Coverage estimate
Estimation formula: (income × years) + debts + education costs - existing coverage = rounded to nearest $5,000. This is a starting calculation, never financial advice.
Why those inputs
How many income years. Most planners recommend ten to twenty years of income replacement; your choice depends on how many years your dependents will need financial support. Stockton families with young children frequently select longer terms because childcare, housing, and education costs often overlap.
Debt payoff. For most households, the mortgage is the largest debt. Having coverage sufficient to pay off a mortgage gives your family the freedom to decide about their home rather than being forced by financial circumstances.
Funding education. Set aside a reasonable education fund per child based on current dollars. Including it in your coverage estimate now is simpler than buying an additional policy afterward.
What you have today. This includes any available savings, together with employer-provided group coverage. Keep in mind that group coverage often ends when employment ends, so many people count only a fraction of it.
Once you decide on a coverage amount, the quote tool displays what that amount would cost per month across 10, 15, 20, 25 and 30-year terms from each carrier. It's typical to choose more than the estimate because the cost difference is relatively modest when you're younger.