Life Insurance Calculator
Calculate how much life insurance coverage your family needs.
Until kids are independent or spouse retires
Mortgage, car loans, credit cards, etc.
Funeral, estate costs (~$15-20K)
Savings that could cover these needs
Life Insurance Basics
Term life insurance: Coverage for a specific period (10-30 years). Most affordable option for most families. Pure protection, no cash value.
Common rule of thumb: 10-12x annual income. But this calculator gives a more precise estimate based on your actual needs.
When to buy: Buy when you have dependents (spouse, kids) who rely on your income. Healthier and younger = lower premiums.
Review regularly: Your needs change as debts get paid off, kids grow up, and savings increase. Reassess every few years.
This calculator provides estimates for educational purposes only.