Guide
How much life insurance do you need?
A calculator plus the thinking behind it: income years, debts, education and current coverage.
Common practice: list what your earnings would replace, then subtract what you already have in place. This doesn't need to be exact—term policies come in round numbers anyway, and the goal is to give your household stability through the years that count most.
Coverage estimate
Estimate = income × years + debts + education − what you already have, rounded to the nearest $5,000. It's a start, not guidance.
Why those inputs
Income years. Most advisors suggest ten to twenty years; your situation determines where you land. Santa Maria families with young children often go toward the longer end, since costs for childcare, housing and school peak at the same time.
Debts. Mortgage debt is typically the largest obligation. Enough coverage to pay it off gives survivors the option to stay without money pressure.
Education. Set aside a rough amount per child in current dollars. It's simpler to build this in now than to purchase a second policy down the road.
What you have. Savings you can access and employer-provided coverage. Most group coverage ends when employment ends, so it's smart to count only a portion of it.
Once you know your target, the quote tool displays the cost for coverage of that amount across 10, 15, 20, 25 and 30 year terms with every carrier. Going slightly higher is common, since the monthly cost difference is modest when you're younger.