Guide
How much life insurance do you need?
Use the calculator and understand its logic: income years, financial obligations, education funding, and existing resources.
The standard approach is straightforward: add up your income's value plus costs (education, final expenses) and subtract any savings or group policies you own. The answer doesn't require precision—term policies come in round figures anyway, and the objective is stability when it matters most.
Coverage estimate
Estimate = income × years + debts + education − assets, rounded to the nearest $5,000. This is a starting figure, not financial advice.
Why those inputs
Income years. Most advisors suggest ten to twenty years; pick the span your dependents would realistically need support. In Rancho Santa Margarita, families with younger children typically go longer because school, housing and childcare costs overlap.
Debts. Your largest debt is probably your home loan. Coverage that eliminates your mortgage lets your family choose their own path instead of being pushed by finances.
Education. Allocate a budget per child in current dollars. Including it now beats buying another policy later.
Existing coverage. Cash savings available for expenses, plus coverage from your employer. Keep in mind that employer-sponsored coverage normally ends if you leave the job, so many households only count a percentage of it.
Once you have a target number, the quoting tool displays the cost for 10 to 30 years of coverage with each carrier. Many people increase their estimate slightly because the monthly premium at younger ages makes small jumps seem reasonable.