Guide
How much life insurance do you need?
A step-by-step calculator plus the logic: how many years of your income, what debts you're carrying, what you plan to spend on kids' education, and what you've already put away or have through work.
The standard way: add up what your paycheck would have provided for and subtract money you already have set aside. It won't be exact, and it doesn't need to be—term coverage comes in round numbers anyway, and the target is an amount that would get your household through the critical years.
Coverage estimate
Formula: years of income × your pay + outstanding debts + education budget − current savings and coverage, rounded to the nearest $5,000. This is a starting estimate, not professional guidance.
Why those inputs
Years of income. Most planners use 10 to 20 years as the range, but it's really about how long your family would need money to come in if you weren't here. Households with young children in Redwood City often plan for the longer period because costs for childcare, housing and education pile up at the same time.
Debts. A mortgage is often the big one for families; having enough coverage to pay it off lets survivors choose their future without being forced by money.
Education. Set aside a rough amount per child, using today's costs. It's easier to add it to your coverage now than to buy another policy later.
What you have. Money in savings, and coverage that comes through an employer. Remember: group coverage typically ends when you leave that job, so many people only count a fraction of it.
Once you settle on a number, the quote tool shows how that amount costs each month for 10 through 30 years, broken down by carrier. Many people buy a bit more than their estimate because the extra monthly cost is tiny when you're younger.