Guide
How much life insurance do you need?
A tool for calculating your coverage level, plus explanation of each component: years of income, debts, education costs, and what you're already covered for.
A straightforward method: add up the income your family depends on and subtract what already exists. This isn't an exact science, and precision isn't necessary—term policies come in fixed amounts, and the real aim is a comfortable figure for your household's most critical years.
Coverage estimate
Estimate = income × years + debts + education − existing coverage, rounded to $5,000 increments. Use this as your starting point, not as professional advice.
Why those inputs
Income years. A ten to twenty-year window is standard among planners, though your specific need depends on how long dependents require support. In San Mateo, households with young children tend toward longer terms due to overlapping expenses in childcare, housing, and education.
Debts. For most households, the largest debt is a home mortgage. Enough coverage to eliminate it allows survivors the freedom to choose their path forward without financial pressure.
Education. Allow a rough figure per child in current dollars. Including education now is simpler than buying additional coverage later.
What you have. Liquid savings and workplace coverage from your employer. Note that workplace policies typically disappear if you leave your job, so many people don't count the full amount.
Once you've settled on a target amount, the quote tool reveals costs for 10 through 30-year options across every carrier. Going somewhat higher than your initial calculation is typical since monthly premiums at younger ages don't rise dramatically.