Guide
How much life insurance do you need?
A tool for calculation plus the thinking behind it: income-years, debt load, education costs and existing savings.
The standard approach involves summing what your salary supports and then reducing that by current assets. While imprecise, it needn't be: insurance gets bought in round figures, and the objective is a level that keeps your family's finances on track throughout critical years.
Coverage estimate
Estimate = income × years + debts + education − what you already have, rounded to the nearest $5,000. This gives a starting point; it's not a recommendation.
Why those inputs
Income years. Covering 10–20 years of income is the typical advisor recommendation; the ideal span depends on how far your dependents need ongoing support. San Marcos parents with young kids often lean toward the longer range since child-related costs—childcare, housing, education—converge.
Debts. Mortgages typically represent the biggest obligation. Enough coverage to settle a mortgage gives beneficiaries the choice to remain without economic pressure.
Education. A reasonable estimate per child in current dollars. Including this now is simpler than buying a supplementary policy down the road.
What you have. Accessible savings and employer-provided coverage. Since workplace policies usually end when employment does, many factor in only a portion.
Once settled on an amount, use the quote tool to see quotes from 10 through 30-year terms across all participating carriers. People often find that adding somewhat more coverage than initially estimated costs very little extra per month when you're younger.