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How this estimate works
We add the income your family would need to replace, your mortgage and other debts, future college costs and final expenses. Then we subtract the life insurance and savings you already have. The result is the gap that new coverage could fill.
Frequently asked questions
How much life insurance do I need?
A common starting point adds up the income your family would need to replace, your debts and mortgage, future costs such as college, and final expenses, then subtracts the coverage and savings you already have. This calculator does exactly that. Many people also check the result against a simple multiple of income, and an agent can help you refine it.
How many years of income should I replace?
It depends on your family. Many households choose enough years to cover until children are independent or a spouse could rebuild their finances, often 10 years or more. Younger families with small children commonly choose a longer period.
Does this include the cost of the policy?
No. It estimates the amount of coverage, not the premium. Premiums depend on your age, health, tobacco use, the type of policy and the carrier. We can compare quotes from many carriers once you know the amount.
This calculator gives a general estimate for education only. It is not a quote, an offer of coverage, or tax, legal or financial advice. Your actual results depend on your circumstances and the carriers and plans available to you.