Guide
How much life insurance do you need?
A tool for working through the estimate, including income years, debts, education funding and existing coverage.
The standard approach is to estimate what your income would replace, then subtract what you already have. It does not need to be exact; term policies come in round numbers, and the aim is a sum that would steady the household during the critical years.
Coverage estimate
Estimate = (annual income × years) + debts + education costs − existing savings and group coverage, rounded to the nearest $5,000. This is a starting point, not personalized guidance.
Why those inputs
Income years. Planners typically suggest 10 to 20 years; the right length is how long others depend on your paycheck. With young kids in Concord, families often lean toward the longer span because daycare, mortgages and school costs rise together in those same years.
Debts. For most families, a home loan is the biggest. Coverage large enough to clear it gives your family the choice to stay or move without financial pressure.
Education. A ballpark cost per child in present-day dollars. It is simpler to include now than to buy more coverage later.
What you have. Savings available to draw from, and any group coverage through your employer. Group policies often end with the job, so people usually count a portion of that amount.
Once you settle on a figure, the quote tool will show you the monthly cost for 10, 15, 20, 25 or 30 years with every carrier. Many people choose slightly more than the estimate because the extra cost is modest when you are young.