Guide
How much life insurance do you need?
An interactive calculator with explanations of each component: income replacement period, outstanding debts, future education costs, and what you've already accumulated.
The most widely used approach is to estimate what your income replacement should cover and then subtract existing resources. This method doesn't require precision—term policies are purchased in round amounts and the objective is simply an amount that maintains household stability during the critical years ahead.
Coverage estimate
Estimate = (income × years) + outstanding debts + education needs − existing coverage, rounded to the nearest $5,000. This gives you a starting point and is not personalized financial advice.
Why those inputs
Income years. Most financial professionals recommend 10 to 20 years of income replacement, with the specific timeframe depending on how long your family would need income support. In Los Gatos, families with younger children often lean toward the longer period since expenses for care, housing, and education cluster together.
Debts. A mortgage often represents the biggest debt load. Having enough coverage to pay off your home gives your family the freedom to decide their own future instead of being forced by financial pressures.
Education. Include a reasonable figure per child based on today's costs. It's simpler to account for education now than to buy additional coverage later.
What you've accumulated. Include accessible savings and employer-provided coverage. Since most group plans end when employment ends, it's common to count only a portion of group coverage.
Once you've determined your needed amount, the quote tool displays costs for 10 through 30 years from multiple carriers. Selecting a somewhat larger amount than your calculation is common since the monthly cost difference tends to be minimal at younger ages.