Life Insurance Needs Calculator
Quickly estimate how much life insurance coverage your family might need with just a few simple questions. This easy-to-use tool helps you plan for the future by calculating potential expenses like debts, income replacement, and education costs.
1. How much annual income would you like to provide if you were no longer here?
Aim for 60-80% of your after-tax income to cover daily living expenses (excluding childcare, college savings, or debts like mortgages, which are covered elsewhere).
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2. For how many years should your family receive income protection?
Plan to cover the years your dependents need support—usually until your youngest child completes their education, or longer if needed.
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3. How much debt would you like to eliminate immediately?
Include obligations like your mortgage, car loans, credit card balances, and private student loans that you'd want cleared right away.
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5. How much should your emergency fund cover?
Aim to save 3-6 months' worth of essential expenses as a financial safety net. If you don't have an emergency fund yet, this is the perfect time to start building one.
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6. What is your current personal life insurance coverage?
Please exclude any employer-provided policies, as these typically end if you leave your job.
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Your Life Insurance Needs
Income replacement:
Debt payoff:
College funding:
Emergency fund:
Burial expenses: $20,000
Existing insurance:
Total insurance needed:
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