Guide
How much life insurance do you need?
Use this interactive tool to work through income years, debts, education funding, and what you already have covered.
The standard approach: calculate what your earnings would replace, then deduct existing coverage. While not a precise calculation, it's adequate: policies are written in $5,000 increments, and the intent is a number that sustains your household through the critical years.
Coverage estimate
Formula: (income × years) + debts + education costs − current coverage, rounded to the next $5,000. This is your starting reference, not guidance.
Why those inputs
Income years. Coverage typically addresses 10 to 20 years of salary; the ideal span depends on how long dependents require assistance. For Irvine households raising young children, the higher end makes sense because childcare, housing, and education expenses cluster during the same period.
Debts. For most households, the home loan is the single largest liability. Ensuring enough coverage to satisfy a mortgage frees survivors to choose whether they stay, rather than being forced by finances.
Education. Reserve a rough sum per child in current dollars. Including this now avoids having to buy another policy later.
What you have. Include bank savings available for use, plus group insurance through an employer. Remember that workplace policies typically end when employment does, so many factor in only a portion.
Once you know the amount, the quote tool calculates the cost across 10, 15, 20, 25, and 30-year options from each carrier. Many people select a bit more than their estimate because premiums at younger ages don't rise dramatically.