Guide
How much life insurance do you need?
A simple calculator and an explanation of the four numbers that drive the estimate: the years of income you want to replace, your debts, education costs, and coverage you already have in place.
The easiest approach is to estimate how much income would be needed for the years ahead, add up major debts, then subtract any group coverage you already have through work. You won't need an exact number—term policies come in round amounts, and the goal is enough to hold your household together during the years when you matter most financially.
Coverage estimate
A rough calculation: (annual income × number of years) + total debts + education costs − existing coverage, rounded to the nearest $5,000. This is a starting point to explore; it is not professional financial advice.
Why those inputs
How many years of income to replace matters and is unique to each household. A common range is 10 to 20 years, though families with young children in Laguna Niguel often lean toward the longer terms since school costs, childcare, and housing expenses stack together.
What you owe. Most families have a mortgage as their biggest obligation. Coverage large enough to pay it off leaves survivors the choice of staying in their home without the burden of the monthly payment.
School and college costs. Include a allowance for each child's education, in current dollars. It's simpler to buy enough coverage the first time than to add another policy later.
Existing coverage. Group insurance through your employer and savings you could tap if needed. Remember that group coverage typically stops when your employment ends, so many people count only a portion of it in their safety net.
Once you settle on a coverage amount, the quote tool will show what each carrier charges for that amount across 10-, 15-, 20-, 25-, and 30-year terms. Many people find they can afford a bit more coverage than their initial calculation suggested, because the monthly cost increase is modest at younger ages.