Guide
How much life insurance do you need?
Interactive tool plus explanation: working with income duration, outstanding obligations, schooling funds and what coverage you already own.
Add up your household's cash obligations minus current protections, then round to the nearest $5,000. Methodology need not be precise—term policies come in round figures.
Coverage estimate
Estimate = (annual income × years needed) + remaining debt + college costs − existing resources, rounded to the nearest $5,000. Start here, but do not rely on this as personal guidance.
Why those inputs
Income years. Planners commonly recommend 10 to 20 years of replaceable income; the exact duration depends on how long dependents will require support. South Gate families with young children tend to choose the higher end because youth care, housing, and education expenses peak simultaneously.
Debts. A home loan is usually the biggest debt. Setting coverage to pay it off gives family members the freedom to stay or move without being pressured by financial limits.
Education. Set aside a reasonable allocation per child using current dollars. Arranging it now is simpler than adding another policy afterwards.
Your existing coverage. Bank accounts available for withdrawal, plus employer-provided life insurance. Most group policies end when employment ends, so people often include only a portion of it.
After figuring out your amount, the quotation tool will show 10-, 15-, 20-, 25-, and 30-year monthly costs. Most people buy a bit more than their estimate because young premiums are cheap.