Guide
How much life insurance do you need?
A tool for calculating coverage needs and the logic backing it: income span, liabilities, schooling costs, and your current assets.
The typical approach is to calculate what your earnings would have replaced, then deduct existing resources. Precision is not required—in fact, term policies are sold in whole numbers anyway, and the real goal is selecting an amount that stabilizes your household through its vulnerable years.
Coverage estimate
Estimate = income × years + debts + education − what you already have, rounded to the nearest $5,000. This is a rough starting place, not financial guidance.
Why those inputs
Income years. Most advisors work within a ten- to twenty-year window; your specific number hinges on the duration of support your dependents require. Chino families with young kids often lean toward the upper range because childcare, housing, and education expenses all hit their peak simultaneously.
Debts. For most households, the mortgage is the biggest financial obligation. With coverage sufficient to pay it off, your family could choose whether to remain in the home based on preference rather than out of financial necessity.
Education. Budget a rough amount per child in current-year dollars. It's simpler to account for it upfront than to buy another policy down the road.
What you have. Liquid savings and workplace coverage plans both count. Since employer-provided coverage typically ends if you leave that job, many people only include a portion of it.
Once you've settled on an amount, check the quote tool to see what carriers would charge for that coverage across 10- to 30-year periods. Many people elect slightly higher coverage than their initial estimate since the monthly cost difference is modest when you're younger.