Guide
How much life insurance do you need?
A tool plus the thinking behind it: how many working years to cover, what you owe, schooling costs, and what's already in place.
A standard approach: add together what your pay would have provided, then subtract what you already have in place. This doesn't need to be exact; insurance comes in round figures anyway, and the real goal is a number that keeps your family steady through the years when you're most needed.
Coverage estimate
Estimate = income × years + debts + education − existing coverage, rounded to $5,000. This is a starting point only, not professional guidance.
Why those inputs
Income years. Ten to twenty years of your income is a common benchmark; the right span depends on how long your dependents will need support. Families with young children in Loma Linda often lean toward the longer timeframe since childcare, housing and education expenses tend to reach their peak simultaneously.
Debts. For most households, a home loan is the biggest one. Enough coverage to pay it off lets your family decide their own future without financial pressure forcing the choice.
Education. Set aside a rough amount per child in current dollars. Adding it now is simpler than buying more insurance later.
What you have. Emergency savings you could use, and any life coverage through your employer. Group plans end when employment ends, so most people count only a fraction of it.
Once you've calculated your target amount, run it through the quote tool to see monthly costs from each carrier for 10-, 15-, 20-, 25- and 30-year terms. Many people buy above their estimate because the cost difference per month is modest when you're younger.