Guide
How much life insurance do you need?
A tool and the thinking behind it: years of income, obligations, education costs and current resources.
A common method: add up the income you would have earned and subtract what is already saved or guaranteed. It is imprecise, and it does not need to be: policies are bought in $5,000 increments, and the goal is stability through the critical years.
Coverage estimate
Estimated need = income × years + obligations + schooling − present savings, rounded to $5,000. This is only a starting point, not financial guidance.
Why those inputs
Earning years. Most advisors recommend ten to twenty years; the right span depends on how long your dependents rely on your work. Many Hawthorne families with young kids pick the longer option because costs overlap for childcare, housing and education.
Outstanding balances. Mortgages are the biggest financial obligation for most families. Coverage large enough to settle it lets survivors stay in their home if they wish, rather than being forced to sell.
Schooling. Set aside a basic amount per child in current dollars. Including this now avoids needing to buy more insurance later.
What you own now. Cash on hand and workplace insurance programs. Remember that group policies from employers usually stop when you leave.
Once you know the amount, the quotes tool shows how much that coverage costs from each carrier across 10 to 30 year options. Purchasing somewhat more is typical because the cost difference is usually small.