Guide
How much life insurance do you need?
Use a calculator and understand the reasoning: income replacement years, outstanding debts, education funding, and what you already have in place.
Add up expected years of income lost, subtract existing coverage already in place, and round to the nearest $5,000. This is a starting estimate, and precision isn't required — term insurance is sold in round figures, and the goal is a reasonable amount to sustain your household.
Coverage estimate
Calculation = income × years + debts + education − existing coverage, rounded to nearest $5,000. This is your starting point, not professional guidance.
Why those inputs
Income years. The typical range financial advisors recommend is 10 to 20 years of replacement income, but your specific need depends on how many years your dependents require support. Families in El Monte with young children typically pick toward the longer side because childcare, housing, and education expenses occur together during those years.
Debts. Most households' largest debt is a mortgage. Planning for enough coverage to pay it off gives your family freedom to choose their next chapter instead of being forced by finances.
Education. Make a rough estimate per child based on current dollars. Including this now is easier than purchasing additional coverage down the road.
Coverage you own. Include readily available savings and employer group coverage. Remember that group coverage usually ends when employment ends, so some families count only a portion of it.
Once you have a target amount, visit the quotes section to see pricing for 10 to 30-year terms across all carriers. Many families increase their target by a small amount since costs are low when you're younger.