Guide
How much life insurance do you need?
Information and a calculator for thinking through how much coverage might fit your situation: the years of income you want to protect, debts, education goals, and what you already have set aside.
The usual approach: total up everything your income currently covers, then subtract any protection already in place like savings or group insurance through work. You don't need an exact number; coverage amounts come in round figures anyway, and the aim is to choose something that would support your household through the critical years.
Coverage estimate
Rough formula: (annual income × years of coverage needed) + major debts + education savings goal − current insurance and savings, rounded to the nearest $5,000. This is a starting point to think through, not professional financial advice.
Why those inputs
Years of income to replace. Most financial advisors recommend 10 to 20 years of income replacement; the right length depends on how long your family would need that support. In the Palm Desert area, families with young children often lean toward 20 or 25 years because major expenses pile up: childcare, home payments, and K-12 education all peak during the same decade.
Debts you'd leave behind. For most households, a mortgage is the biggest one. Life insurance that would pay it off means your family can keep the house if that's what they want, rather than having to sell because of cash flow.
Education funding. Set aside a ballpark amount per child in current dollars, even if you are not sure you will use all of it. Including it in your coverage now is simpler than buying a second policy five years from now.
Protection already in place. Count savings or investments that could be used, and group life insurance through your job if you have it. Group coverage typically stops if you leave your employer, so it is common to count only a portion of it or not count it at all.
Once you have a target amount, use the quotes page to see the monthly cost from different carriers across 10-, 15-, 20-, 25-, and 30-year terms. Many people find that going a little higher makes financial sense, since the extra cost each month is usually modest when you are younger.