Guide
How much life insurance do you need?
A calculator plus the logic behind it: the income years when your family would struggle without you, outstanding debt, the cost of education, and what's already covered.
The standard approach is to sum up what your paychecks would have funded, then subtract savings and workplace group insurance already in place. The math doesn't need to be exact; coverage is purchased in $5,000 increments anyway, and the goal is simply keeping the household stable through the critical years.
Coverage estimate
Coverage estimate = yearly income × protection years + debts + education costs − existing savings and group coverage, rounded to the nearest $5,000. This is a rough starting point, not personalized guidance.
Why those inputs
Income years. Planners typically suggest ten to twenty years of income protection; your specific situation depends on how many years your dependents would need support. Many Alameda households with young children lean toward the longer spans because housing, childcare and educational expenses often peak in the same period.
Debts. For most families, a home mortgage is the biggest financial obligation. If coverage is large enough to pay off the mortgage, your family could stay in the home without being forced by financial pressure to sell or move.
Education. Setting aside a rough amount per child in today's money. Building it into coverage now is easier than buying a second policy years down the line.
What's already in place. Liquid assets and group life coverage provided by your employer. Keep in mind that workplace group coverage typically terminates when you leave the job, so many people don't count it in full.
Once you've decided on a coverage amount, the quote tool displays what it would cost from each carrier over 10, 15, 20, 25 and 30 year terms. Choosing extra coverage beyond the estimate is common, since at younger ages the cost difference between coverage amounts is modest.