Guide
How much life insurance do you need?
A calculator that walks through income years, liabilities, college budget, and current benefits.
Start by counting your income years, toss in mortgage and other debts, subtract what you've already got. Round to the nearest $5,000. Not a precise science, but it covers what counts.
Coverage estimate
Take annual income times the years, add debts and college estimates, subtract what you've got, round to $5k. Starting point, not tax advice.
Why those inputs
Income years. Most advisors suggest replacing 10 to 20 years of income, with the exact amount based on how long your dependents need support. Many families with young children in Santa Monica pick the longer timeframe because the expenses for childcare, housing, and education concentrate in those same years.
Your debts. The home loan is typically the lion's share. If your coverage could settle it, your family keeps the house if they want to—not forced to sell for cash.
School costs. Per kid, in 2026 dollars. Easier to roll it in now than layer on another policy after.
What you hold now. Cash reserves and employer group insurance count, but employer coverage evaporates when you quit, so most people include only part of it.
With your target number set, visit the quote tool to see carrier pricing across all term options. Overbuy a bit? The monthly premium difference is small in your thirties or forties.