Guide

How much life insurance do you need?

Use the built-in calculator and learn the framework: how many years of income, the role of existing debts, setting aside for higher education, and counting assets you already have.

The standard approach: list the income you'd want replaced for a given period, add any major debts, include education costs, then subtract existing assets. The final number doesn't have to be exact—policies are sold in round figures, and the goal is simply a comfortable cushion for crucial years.

Why those inputs

Income years. Planners typically suggest replacing income for ten to twenty years, depending on how long dependents will need financial support. In Pico Rivera, many families with young children select a longer period because they're juggling mortgage, childcare, school costs and everything else at once.

Debts. The mortgage is typically the single biggest liability. Having enough coverage to eliminate it gives your family the choice to keep the home, rather than being forced to sell by financial pressure.

Education. A reasonable per-child estimate in current dollars works well. Locking in education funding now is far simpler than trying to add a second policy years later.

What you have. Include money in savings that could be spent down, and group coverage offered at work. Since group plans often disappear when you leave a job, most people count only a fraction of it.

Once you have a target amount in mind, our quotes tool will show you the monthly cost from any carrier, for terms ranging from ten to thirty years. Buying extra coverage is common; the price difference per month is usually small when you're young.