How much life insurance do you need?
Add up what your family would need to stay on their feet, subtract what you already have, and see your estimated coverage need. It takes about two minutes.
Your details
Example values are filled in. Replace them with your own numbers.
Estimated coverage need
$1,050,000
About 14.0× your annual income.
| Income replacement (10 yrs) | $750,000 |
|---|---|
| Mortgage payoff | $250,000 |
| Other debts | $15,000 |
| Education | $0 |
| Final expenses | $15,000 |
| Minus existing life insurance | −$0 |
| Minus savings & investments | −$0 |
| Rounded estimate | $1,050,000 |
This is an educational estimate, not a quote or financial advice. Your actual need depends on your full financial picture, and a licensed agent can help you fine-tune it.
How this calculator works
It uses a needs-based approach that many agents start with. First it adds up what your family would need if you passed away: years of replaced income, paying off the mortgage and other debts, education costs, and final expenses.
Then it subtracts what's already in place, like existing life insurance and savings your family could draw on. The difference, rounded up to the nearest $25,000, is your estimated coverage need.
Term or permanent coverage?
For most working families, term life is the most affordable way to buy a large amount of coverage for the years your family depends on your income. Permanent policies like whole life last your entire life and build cash value, which can make sense for specific planning goals.
A licensed agent can compare both across multiple carriers and help you pick a term length that lines up with your mortgage and your kids' ages.
Turn your estimate into real quotes
We'll compare term and permanent options across our life carriers and walk you through the trade-offs. Free, with no obligation.