Guide
How much life insurance do you need?
A tool and the logic: how many years of income, what debts exist, education savings, and what coverage you've already got.
Start by totaling what your earnings would pay for, then subtract what's already there. This math doesn't have to be exact; you round to the nearest thousand, and the point is to land on a number large enough to keep the household going through the hardest years.
Coverage estimate
The math: income × years + debts + college + other needs − existing coverage, rounded to the nearest $5,000. This is a starting estimate only, not financial advice.
Why those inputs
Income years. Advisors typically suggest ten to twenty years; the exact number depends on how long your dependents need that income. Families with young children in Livermore often lean toward twenty years because school, childcare and housing costs all hit at once.
Debts. Your mortgage is usually the biggest one. Insurance that pays off the mortgage frees your family from pressure to sell or move.
Education. Build in an allowance per child in current dollars. It's simpler to include now than to buy another policy down the road.
What you have. Savings available to the family, and any group life insurance through your employer. Most group plans end when employment does, so many people don't count all of it.
Once you know your target, plug it into the quote tool and compare prices across carriers for 10-, 15-, 20-, 25- and 30-year terms. Many households buy a bit more than their estimate since monthly costs are low when you're younger.