Guide
How much life insurance do you need?
A tool plus the logic behind it: considering your income years, obligations, educational plans, and current coverage.
A standard approach combines what your income supports plus what insurance needs to cover, then subtracts existing resources. This isn't an exact calculation, nor should it be: people buy term life in standard increments, and the objective is arriving at an amount that would stabilize your family for your earning years.
Coverage estimate
Estimate = income × years + debts + education − what you already have, rounded to the nearest $5,000. This is a beginning point only, not financial guidance.
Why those inputs
Your earning years. Most advisors recommend 10 to 20 years of coverage; the correct amount depends on how many years your household members need financial support. Families in Pacifica with children typically lean toward longer terms because housing, childcare, and school expenses often peak simultaneously.
Outstanding debts. For most households, a home loan represents the single largest debt. Having coverage sufficient to satisfy it permits beneficiaries to stay in the home without financial strain forcing a move.
Education plans. Set aside an approximate amount per son or daughter in current dollars. Incorporating this now proves simpler than buying additional protection at a later date.
Coverage you own now. Bank accounts and employer-sponsored insurance both count. Remember that work-based protection usually terminates if you leave that job, so you might count a fraction of what you have.
Once you've determined your amount, use the quote tool to view what that coverage costs across 10 through 30-year terms with every carrier. Many applicants discover that obtaining slightly more coverage adds only a small amount to their monthly cost when applying at younger ages.