Guide
How much life insurance do you need?
A simple tool and the thinking behind it: supporting years, outstanding debts, college costs, and whatever insurance you currently own.
Take what your income supports, subtract what's already set aside elsewhere, and the remainder is your starting estimate. Perfect accuracy isn't necessary: policies are priced in round dollar amounts, and what you're looking for is an amount that keeps your family secure through the years that matter most.
Coverage estimate
Rough calculation: (annual income × number of years) + debt total + education funds − existing savings and group life, then round to the closest $5,000. This is just a starting estimate, not personalized guidance.
Why those inputs
Years of support. Families typically think in 10- to 20-year windows, depending on how long dependents need financial help. Households in Norwalk with small kids often lean toward 20 or 30 years since costs for childcare, housing, and schools pile up all at once.
Loans and mortgages. Most families' largest loan is a mortgage. Having enough coverage to pay off the home frees your family from having to sell for financial reasons.
College funding. Estimate a rough amount per child in current dollars. Adding this now is simpler than buying an extra policy down the road.
Existing insurance. Bank accounts and liquid funds that could fill a gap, plus group coverage from an employer. Since employer coverage normally stops when employment ends, it's smart to count only part of that benefit.
Once you've settled on a target amount, the quote tool lets you compare costs across 10-, 15-, 20-, 25- and 30-year periods from multiple insurers. It's quite common for families to go slightly higher than their initial estimate because the monthly costs don't increase much when you're young.