Guide
How much life insurance do you need?
A formula and the thinking behind it: how long your dependents need support, what debts must be covered, education planning, and what funds already exist.
One popular approach is to add up what your income would support and subtract what's already in place. It's not a precise calculation, and it doesn't need to be: people buy coverage in round dollar amounts, and the point is to come up with a figure that keeps your household stable through the years when it matters most.
Coverage estimate
Calculation: income × years of support + outstanding debts + education cost − existing savings and insurance, rounded to the nearest $5,000. This is a starting point, not professional guidance.
Why those inputs
Income years. Most advisors suggest ten to twenty years of income coverage based on how long your dependents will need support. A San Pablo family with young children typically chooses the longer span because housing, childcare, and schooling expenses happen together.
Debts. Your biggest debt is probably a home mortgage. Coverage that pays it off in full lets your survivors choose to keep the house or sell it without pressure from their budget.
Education. Set aside a rough amount for each child's schooling, using today's prices. It's quicker to include it now than to apply for another policy later.
What you have now. Savings you could use toward bills, and group life insurance through work. Most workplace coverage ends when employment does, so many people only count part of it in their planning.
Once you have a target number, go to the quote tool to see what that coverage amount would cost across 10 to 30-year terms from each carrier. It's common to buy somewhat more coverage than your estimate because the monthly cost difference is modest when you're younger.