How much life insurance do I need?

Estimate your coverage gap based on income replacement, outstanding debts, and existing policies.

Your situation

gross employment income
$20,000$500,000
until youngest child is independent, etc.
1 yr40 yrs
mortgage, car loans, lines of credit
$0$2,000,000
funeral, estate settlement
$0$100,000
group benefits, other policies
$0$2,000,000

Illustrative only. This calculator provides a rough estimate and is not a substitute for professional advice. Coverage needs depend on many factors including your specific debts, dependants, and financial goals. Speak with a licensed advisor before making any insurance decisions.

Suggested coverage

$1,950,000

Rounded up to nearest $50,000 from $1,915,000

Income replacement$1,600,000
Debts to clear$300,000
Final expenses$15,000
Coverage gap$1,915,000

What this number means

This estimate covers income replacement, clearing debts, and final expenses so your family can maintain their standard of living. It is a starting point, not a final recommendation.

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