Guide
How much life insurance do you need?
A tool and the logic it follows: income years, outstanding debts, education costs, and coverage you hold.
The standard approach: sum up what your earnings support, then subtract resources you already have in place. Precision isn't necessary—term life comes in round amounts, and your target is a figure that keeps your household on track through the critical years.
Coverage estimate
Formula: income × years + debts + education − existing coverage, rounded to the nearest $5,000. This is a starting framework, not personalized advice.
Why those inputs
Income years. Most professionals suggest a term length covering somewhere between one and two decades of income—the precise figure depends on your household's circumstances. In Oakley, parents of young kids frequently select the longer options, as this era brings high expenses for care, housing and school.
Debts. Most households carry a mortgage as their biggest debt. A death benefit large enough to pay it off gives your family the option to stay in the home without financial pressure.
Education. An approximate cost per child in current dollars. It's more practical to include it now than to purchase additional coverage later.
What you have. Liquid savings and workplace group coverage. Since group plans typically end when employment ends, many people factor in only a portion of it.
Once you've settled on an amount, the quote tool displays the cost for 10- to 30-year terms across all carriers. Many people buy more than their estimate because monthly premiums are low when you're younger.