Life Insurance Needs Calculator

Estimate coverage with income replacement, debts, goals, and existing resources.

Inputs

Currency

Annual income to replace

Years of income replacement

Debts to clear (incl. mortgage)

Education / other goals

Final expenses estimate

Existing cover + usable savings

Needs guide

Results

Estimated cover need

—

Income replacement total—

Debts + goals + final expenses—

Existing resources—

Gross need before subtraction—

Results update when you click Calculate. Currency formatting follows your selected code.

How this calculator works

Estimates life insurance policy coverage required to replace income, liquidate debts, cover final expenses, and fund long-term family financial goals.

Formula

Coverage Need = (Annual Income × Replacement Years) + Total Liabilities + Future Obligations - Existing Liquid Assets

Worked Example

$75,000 income (10-year replacement = $750,000) + $200,000 mortgage debt + $50,000 college fund - $50,000 savings = $950,000 total policy recommendation.

Assumptions

Surviving dependents deploy insurance proceeds into liquid income-generating assets.
Existing liquid assets remain intact until policy activation.

Limitations

Does not estimate monthly premium costs or medical underwriting health class requirements.