Guide
How much life insurance do you need?
Build your own number using a calculator plus the thinking behind each component: years of income replacement, outstanding obligations, education reserves, and resources you currently have.
The standard approach totals all foreseeable financial needs, then subtracts resources already available. Perfect precision isn't required—policies are structured in round figures, and the objective is simply a sum large enough to sustain your household through the critical years.
Coverage estimate
Estimate = (income × years) + debts + education − existing coverage, then round to the nearest $5,000. Use this as a starting reference, not as professional guidance.
Why those inputs
Income years. Most advisors suggest replacing 10 to 20 years of earnings, depending on your dependents' anticipated support period. Hanford households raising young children frequently lean toward 25- or 30-year terms because expenses for care, housing, and schools cluster together during these decades.
Debts. For most households, a mortgage represents the largest obligation. Sufficient coverage to fully repay it gives your loved ones the option to stay in the home without financial pressure.
Education. Factor in a realistic amount per child based on current costs. Including this now is easier than securing additional coverage later.
What you have. Include accessible savings and employer-provided benefits. Bear in mind that company coverage typically terminates upon job separation, so account for only that portion you'd actually rely on.
Once you settle on a target, the quote tool lets you evaluate pricing across 10-, 15-, 20-, 25-, and 30-year durations from available carriers. Many choose coverage modestly higher than calculated estimates, since monthly cost changes are minimal when you're younger.