Guide
How much life insurance do you need?
A worksheet and the reasoning behind it: years of income, debts, education costs, and resources you already own.
A typical method: total what your earnings could have provided over time, subtract existing resources, and round to a number that feels right. It does not need to be precise; term insurance is sold in round numbers, and the goal is a figure that would keep your household stable during the years that count.
Coverage estimate
Rough formula: income × years + debts + education − current savings, then round to the nearest $5,000. This is a beginning point only, not professional guidance.
Why those inputs
Income years. Between ten and twenty years is the typical planning range; you pick based on how long your dependents need income support. Families in San Francisco with young children lean toward the longer timeframe, as childcare, housing, and school costs run high simultaneously.
Debts. Most families owe a mortgage. Coverage sufficient to pay it off gives survivors the option to stay without being forced by necessity to move.
Education. Set aside a rough estimate per child in today's money. It is better to include this now than to apply for another policy later.
Current resources. Money set aside that could be used, plus employer-provided coverage. Since group coverage ends when employment ends, some planners count only a fraction of it.
When you arrive at a number that makes sense, the quote tool lets you see what each carrier charges for 10 through 30 years. A common step is purchasing somewhat more than your estimate, since the extra cost per month is modest when you are younger.