Guide
How much life insurance do you need?
A tool and its logic: how many years of income, outstanding debts, education costs, and what protection already exists.
Start by totaling what your income supports, then subtract existing coverage. Precision isn't required—term policies come in round amounts, and the aim is stability for the critical years ahead.
Coverage estimate
Formula: income times years plus debts plus education minus existing resources, rounded to the nearest $5,000. This is a starting reference, not professional guidance.
Why those inputs
Income years. Most advisors recommend 10–20 years of income replacement; your choice depends on how long your dependents need backing. Families with young kids in Monrovia lean toward the higher end since childcare, rent/mortgage, and school bills all peak at once.
Debts. Most households list a mortgage first. If coverage could pay it off, your family wouldn't be forced to sell or leave due to cash pressure.
Education. Set aside a rough per-child amount in current dollars. Adding it now is simpler than buying more coverage later.
What you have. Liquid savings and any group policy through your employer. Group coverage typically stops if you leave the job, so most people only count a portion.
Use our quote tool to see your chosen amount across 10–30-year terms from each carrier. Many people buy more than their estimate because monthly costs are lower when you're younger.