Most families are underinsured by $250,000 or more. Answer five quick questions and get a coverage number based on your real life.
Your coverage number = income replacement + what you owe + what it costs to close out a life, minus what you already have.
10-12x your annual income is the standard. It keeps your family in the same house, same schools, same life.
Life insurance pays off what you owe. A paid-off mortgage removes the single biggest bill your family faces.
Funerals run $8,000-$12,000. Add education costs if you want to fund your kids' college no matter what.
Existing policies, savings, and investments reduce the gap. The calculator subtracts these automatically.
Verified monthly rates for 20-year term, best health rating:
from $11/month
at age 30
from $16/month
at age 30
from $23/month
at age 30
For most families, yes, that is the starting point. Add your mortgage and debts on top. If you have young children or a spouse who doesn't work, lean toward the higher end of 10-12x.
Savings cover a chapter, not a lifetime. Life insurance replaces years of income in one tax-free payment, so your family doesn't have to drain retirement accounts or sell the house during their hardest year.
Yes. Many term policies include conversion options, and you can always add coverage with a new policy. Buying more than you need now locks in younger rates, which is why the calculator rounds up.
Absolutely. Replacing childcare, housework, and home management can cost $40,000-$80,000 a year. A stay-at-home parent's coverage protects the family's ability to function after a loss.