Guide
How much life insurance do you need?
A tool and explanation of the approach: how many years of income, your debts, education costs, and existing resources.
A straightforward approach: estimate the income you replace, subtract existing coverage, and round to the nearest sensible amount. Precision is less important than having a figure that sustains your household through the critical years.
Coverage estimate
Estimated need = (income × years) + debts + education costs − current coverage, rounded to the nearest $5,000. This is just a starting framework, not personalized guidance.
Why those inputs
Income years. Most advisors suggest replacing income for ten to twenty years depending on how long dependents need support. Highland families with young children often lean toward the longer range because child-related costs for care, housing, and education cluster together.
Debts. For most families, the mortgage is the biggest one. Insurance that pays it off in full gives survivors the choice to stay or relocate without financial pressure.
Education. Set aside a reasonable amount per child in current dollars. Building this in now is simpler than taking out additional coverage down the road.
What you have. Include savings you could draw on and any workplace group policy. Remember that group coverage generally stops when you leave the job, so people often count only a portion of it.
Once you've settled on an amount, the quote tool lets you see how much each carrier charges for 10 through 30 year terms. Many people choose coverage slightly above their estimate since the added cost per month is modest at younger ages.