Guide
How much life insurance do you need?
A calculator and explanations of how to estimate your family's actual need, including income years, any debts, college costs, and resources you already have set aside.
A practical approach is to list the expenses your income currently covers—housing, food, children's costs, debt payments—then subtract what is already protected by savings or existing insurance. The result is a starting point. Coverage amounts are typically rounded to the nearest $25,000 or $50,000.
Coverage estimate
A useful estimate: (yearly income × number of years you want covered) + outstanding debts + estimated education costs − savings you already have. Round to the nearest $25,000. This is a starting point, not a financial recommendation.
Why those inputs
Income years. Most financial planners recommend 10 to 20 years as the protection window. The right choice depends on how long your dependents would need that support. In Yucaipa, families with young children often lean toward the longer end of that range because housing costs, child care, and schooling expenses all demand money at the same time.
Debts. An outstanding mortgage is typically the biggest one. If your family would need to keep the house, coverage large enough to pay off the mortgage protects that choice.
Education. An allowance for each child's education in today's dollars, added here. It is simpler to build it into your coverage now than to buy a second policy when your child is older.
What you have. Savings that could pay expenses, and any coverage through your job. Group policies through an employer often end when employment does, so many people count only part of it toward what they already have.
Once you know the amount you need, the quote tool lets you compare that amount across different term lengths and carriers, from 10 years through 30 years. Many people choose more than their initial estimate when they see how small the monthly premium increase is.