Guide
How much life insurance do you need?
Find a practical calculator plus explanations of the pieces: how many income years to plan for, debts, college costs, and what insurance you already carry.
A straightforward method is to total what you'd want to replace in income over the years ahead, then take away anything you already have as coverage. It won't be perfect—and it doesn't have to be. Life insurance is sold in nice round numbers anyway, and the goal is just something in the right ballpark to stabilize your family through the critical years.
Coverage estimate
Estimate = (annual income × years of need) + debts + education goals − existing coverage, then round to the nearest $5,000. This is just a starting place; it's not professional guidance.
Why those inputs
Years of income to replace. Insurance professionals typically suggest 10 to 20 years of replacement income, and the best choice for your family relies on how long those who depend on you would need money. Families in Norwalk with younger kids on their hands tend to lean toward the 20 or 30-year options since education, housing, and care costs stack up at the same time.
Mortgages and loans. A home loan represents the biggest debt for most households. Enough coverage to pay it off gives your family the option to keep or sell the home based on their wishes, not because they're forced to by money pressure.
College and education. Include a rough budget for each child, using today's dollars as your baseline. It's simpler to build it in now than to buy additional coverage later.
What you're already covered by. Savings available for emergencies, and coverage through your employer. Keep in mind that employer plans generally stop the moment you leave that job, so many families count only a portion of it toward their safety net.
Once you settle on a coverage goal, head to the quotes page to see monthly costs across 10 to 30 years, with pricing from each carrier. Many people pick coverage slightly above their initial estimate because the monthly cost difference is typically small when you're younger.