Guide
How much life insurance do you need?
Use our calculator to work through income, debts, education needs and what you currently have saved or insured—plus the logic we use to figure it out.
One straightforward approach: calculate your annual take-home pay, multiply by how many years your family would need that income, add major debts like a mortgage, subtract money already set aside or insured, and round up.
Coverage estimate
Amount = (yearly income × number of years) + outstanding debts + education savings − existing savings and coverage; then round to a comfortable number.
Why those inputs
How many years of income. Most households need between ten and twenty years of coverage, covering the time until kids are grown or a mortgage is paid down.
Outstanding loans. Your mortgage is usually the biggest one. The amount you choose should cover what remains to be paid.
College and childcare expenses. A rough estimate for each child in current dollars. Add more if you want to leave something besides education costs.
Assets you own. Bank accounts that could be tapped, and life insurance through an employer or group plan already in place.
Once you've decided on a figure, head to our quote tool and plug in that number to find real premium rates.