Life Insurance Needs Calculator
How much coverage do you actually need to protect your family? The number might be higher than your employer's 2× salary default, or lower than you think.
$
yrs
%
Existing Resources
$
$
Debts & Obligations
$
$
$
Future Needs
$
$
Coverage Gap
$1,431,081
Additional coverage needed
Total Gross Needs
$1,701,081
Present value of all needs
Existing Resources
$270,000
Savings + current coverage
Coverage Tiers
Minimum
Debts + final expenses
$360,000
5 years income
$475,000
Total
$835,000
Recommended
Full income replacement (PV)
$1,291,081
All debts + final expenses
$360,000
Total
$1,651,081
Comprehensive
Income + debts + expenses
$1,651,081
College funding
$50,000
Stay-at-home PV
$0
Total
$1,701,081
Full Needs Breakdown
| Category | Amount | Notes |
|---|---|---|
| Income Replacement (PV) | $1,291,081 | PV of 20 yrs at 4% discount |
| Stay-at-Home Spouse (PV) | $0 | PV of annual replacement cost |
| Mortgage Payoff | $320,000 | Current balance |
| Other Debts | $25,000 | Car, student loans, etc. |
| Final Expenses | $15,000 | Funeral, estate costs |
| College Funding | $50,000 | All dependents |
| Subtotal (Gross Needs) | $1,701,081 | |
| Minus: Existing Savings | −$80,000 | |
| Minus: Existing Coverage | −$190,000 | |
| Coverage Gap | $1,431,081 | Additional coverage needed |
⚠️ The most underinsured household in America is one where a stay-at-home spouse has zero life insurance. Replacing the childcare and household management they provide costs $50,000–$80,000/year. That's $500,000–$800,000 in coverage for a 10-year period.