Guide
How much life insurance do you need?
A tool and the logic: how many years your paycheck supports the family, what you owe, education costs ahead, and what's already set aside.
A standard approach: total your annual income, multiply by the years your dependents need support, then subtract savings and any existing coverage. It doesn't have to be exact — people buy coverage in standard amounts — the aim is to pick a level that keeps things stable when things matter most.
Coverage estimate
Estimate = annual income × years until children are grown + debts + college budget − cash and existing policies, rounded to the nearest $5,000. This is a starting framework, not professional guidance.
Why those inputs
Income years. Most financial advisors recommend planning for ten to twenty years of lost income, with the exact period depending on how long your family would need support. Many Ventura families with young children lean toward the longer side since childcare, housing, and education costs tend to overlap during those same years.
Debts. For most households the mortgage is the biggest one. Life insurance large enough to pay off the house gives the surviving family the choice of whether they stay, rather than having money problems force the decision.
Education. A rough per-child amount in current dollars. It's simpler to include it upfront than to apply for additional coverage later.
What you have. Liquid savings and group coverage your employer offers. Work coverage typically stops if you leave the job, so many people factor in only a fraction of it.
Once you have a target amount, the tool displays monthly costs from carriers across 10-, 15-, 20-, 25- and 30-year options. Frequently people select slightly higher coverage than their calculation suggests because the added monthly cost is modest when you're younger.