Guide
How much life insurance do you need?
Calculator plus explanation of the components: income length, debts, schooling and existing coverage.
Add your yearly income times the number of years, plus debts, plus education funds. Subtract what you already have saved or via employer coverage. Round to a nice number—this is ballpark, not a formula.
Coverage estimate
Math: (annual income × years needed) + mortgage + college costs − savings and work group coverage, rounded to the nearest $5,000. Think of it as a worksheet, not a recommendation.
Why those inputs
Years of income. Planners usually suggest 10 to 20 years—find what fits your dependents' timeline. Lake Elsinore families with young kids commonly lean toward 20 or 30 because school, housing and childcare pile up in the same window.
Debts. A home mortgage is typically the biggest. Coverage to clear the mortgage lets survivors stay if they choose, rather than having finances force their hand.
Schooling. Estimate a rough amount per child. Building it in now beats adding a separate policy later.
What you have now. Include liquid savings and work-provided coverage. Remember that employer coverage goes away if you leave the job, so many people count less than the full amount.
Plug your estimate into the quote tool and see 10-, 15-, 20-, 25- and 30-year options side by side. Many go higher than the original estimate because the monthly cost jump is usually modest when you are younger.