The most common starting framework is 10× to 15× your annual income — but that’s a rough heuristic, not the right answer for everyone. A more accurate calculation: (1) add up income you need to replace × years of dependency, (2) add outstanding debts (mortgage, student loans, car loans, business loans), (3) add future obligations (children’s college, special-needs care, dependent care for aging parents), (4) add final expenses ($15K–$25K is typical), (5) subtract existing assets that would be available to your family (retirement accounts, existing savings, group life through employer). The result is your “needed” face amount. For most working parents in the DC metro, this lands between $500,000 and $2 million — substantially more than most people initially estimate.