Guide
How much life insurance do you need?
A tool and the reasoning behind it: income duration, debt, education costs, and existing resources.
Start by totaling what your income would have covered, then subtract what's already available. This isn't meant to be exact. Term insurance is priced in standard increments, and precision isn't the goal—you're looking for a stable amount that works for your situation.
Coverage estimate
Calculation: income × years of need + fixed debts + education savings − current savings = a preliminary number, rounded up to the nearest $5,000. Use it as a starting point, not final guidance.
Why those inputs
Duration of income replacement. Financial planners typically suggest ten to twenty years as the standard range; your situation depends on how long your dependents would need support. Burbank households supporting young children in school and childcare often lean toward the longer terms since those expenses cluster together.
Debt obligations. Most households carry a mortgage as the largest debt. Coverage that pays off the mortgage protects survivors from forced decisions driven by financial pressure.
Education expenses. Budget a rough per-child amount in today's dollars. Including it now sidesteps the need to apply for extra coverage later.
Existing protection. Bank savings available if needed, and group coverage from your employer. Group insurance usually terminates at job separation, so counting a portion is more realistic than counting all of it.
Once you know your number, the quote tool lets you see the monthly cost for different amounts and terms. Most people find a number slightly higher than their calculation—the extra cost at younger ages is usually minimal.