Guide
How much life insurance do you need?
A tool for calculating coverage and the reasoning behind it: years of income needed, debts, education expenses, and what you already have.
Most people use simple addition: what income would your household have lost, then subtract what's already available. It doesn't have to be exact, and it shouldn't be—people buy coverage in round numbers, with the goal of keeping the family stable through the years that matter.
Coverage estimate
Rough formula = income × years + debts + education − existing resources, then round to the nearest $5,000. This is a starting point, not financial guidance.
Why those inputs
Years of income. Professional guidance typically recommends income replacement for ten to twenty years, determined by how long your dependents need support. In Laguna Niguel, many households with young children select the longer options because combined costs for childcare, housing, and K–12 education peak simultaneously.
Outstanding debts. The largest debt for most people is a home loan. Coverage sufficient to clear a mortgage allows survivors to make their own decisions instead of being forced by finances.
Schooling costs. Include a rough amount per child, in current dollars. It's simpler to add it now than to buy a supplemental policy later.
Resources on hand. Bank savings available for emergencies, and any coverage you get through your job. Most employers' coverage ends with employment, so many workers count only a part of that.
Once you have a target, the quote tool displays the monthly cost across 10 to 30 year terms from each carrier. Many people buy somewhat above their estimate because the monthly cost difference is minimal when you're younger.