Guide
How much life insurance do you need?
A tool that does the math, plus explanations of the pieces that go into it: how many income years to cover, debts, education, and what you already have in place.
The most straightforward way is to sum what your income stream would have taken care of and subtract what's already protected. It's not going to be exact—and it doesn't need to be. Coverage amounts come in round increments, and the target is simply to stabilize your household finances through the years ahead.
Coverage estimate
Calculation: (annual income × years of coverage needed) + any debts + education costs − existing savings or group coverage, rounded to the nearest $5,000. This is a rough guide, not financial counsel.
Why those inputs
Duration in years. Planners typically recommend a range of ten to twenty years; the exact right span depends on how many years your dependents need your income. Long Beach families with elementary-age children often tip toward the longer timeframes because child-related expenses—supervision, housing, schooling—cluster during the same years.
Outstanding loans. For most households, the mortgage is the biggest one. The right coverage pays it off and gives your family the choice to stay or move without money pressures determining the answer.
College costs. Set aside a rough figure per child in today's money. It's far easier to build it into your coverage amount now than to purchase an additional policy when your family grows.
What's already in place. Emergency funds in savings, and group life policies through your employer. Bear in mind that group coverage stops when you leave the job, so treating only part of it as permanent protection is the prudent approach.
Once you know your target coverage amount, plug it into the quote tool to see pricing for terms ranging from 10 to 30 years across every carrier. It's typical for people to buy a bit above their initial estimate; the monthly premium difference shrinks as you get older.