Life insurance needs calculator
Estimate how much life insurance your household might need by adding up income, debts, and future costs, minus what you already have.
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How this calculator works
Life insurance is meant to cover the money your household would need if you died. This calculator adds up common costs: years of lost income, debts, a mortgage, future education, and final expenses. It then subtracts life insurance and savings your family could already use.
It’s a rough starting point, not a precise answer. Use it to understand the pieces before you talk with a licensed agent or financial professional.
Your estimate
Estimated coverage need
- Income replacement
- Debts
- Mortgage
- Education
- Final expenses
- Total costs
- Existing coverage and savings
Based on these numbers, your existing coverage and savings already meet these costs. Recheck when your income, debts, or family change.
Enter at least one cost to see an estimate.
What this estimate leaves out
- Inflation and investment returns: income your family needs in 15 years will cost more than it does today.
- Social Security survivor benefits and other benefits your family might receive.
- Taxes and the cost of childcare or household help if a stay-at-home parent dies.
- Coverage through work often ends when you leave the job.
A licensed agent can explain the types of life insurance and how the amount you choose affects the price.
About this estimate
This calculator is general education, not insurance, financial, or legal advice. It uses simple math on the numbers you enter and can’t account for everything about your situation. Your policy, your insurer’s rules, and your state’s requirements control what is covered and what it costs.
For advice about your own coverage, talk with a licensed insurance agent. Questions about an insurer or agent can go to your state insurance department.