Guide
How much life insurance do you need?
A planning calculator and the methodology: consider your income period, existing debts, children's education, and what's already saved or insured.
The approach most advisors suggest: sum up what your paycheck currently covers, then subtract assets and existing coverage that are already in place.
Coverage estimate
Sum = (annual income × years needed) + (outstanding debts) + (education funding) − (existing resources), then round to nearest $5,000.
Why those inputs
Income years. Most planning approaches suggest between 10 and 20 years of income replacement; the right number depends on your family situation and debt timeline.
Debts. The home loan is typically the biggest for most households. A death benefit that wipes out that balance would be significant protection for survivors.
Education. An estimate per child based on current costs. Including this figure makes sense because it's straightforward to add in.
What you already have. Count liquid assets available and employment-based group life insurance. Group policies are often small, but they reduce what you need elsewhere.
After you've calculated a number, head to the quote page to see what your amount costs across different terms.