Coverage Needs Calculator

How much life insurance makes sense for you? Pick an approach, answer a few questions and see a starting point.

No email or phone number needed.

Choose an approach

About 1 minuteQuick estimateA multiple of your income, based on your age and years to retirement. About 2 minutesSimple needsAdds up debts, income, mortgage and education. About 5 minutesDetailed analysisYour full picture: what your family would need, minus what you already have.

About you

Your age Your yearly income

Age you plan to retire

Income for your family

Years of income to provide Often until your youngest child is grown Yearly income your family would need Many families use 70–80% of current income

Spouse or partner income that would continue

Home and debts

Do you rent or own?

Mortgage balance Years left on mortgage

Monthly mortgage payment Principal and interest only. Property taxes and insurance continue after a payoff.

Other debts Car loans, credit cards, student loans Final expenses Funeral and end-of-life costs

Emergency fund to leave behind

Children and education

Children who may go to college Type of college³

What you already have

Savings and investments your family could use Leave out retirement accounts unless you'd want them used Existing life insurance Including coverage through work

Inflation Adjust for inflation? Rising prices mean your family would need more over time.

Sources

Current inflation: 12-month change in the Consumer Price Index (CPI-U), September 2026. U.S. Bureau of Labor Statistics
Long-term average inflation: average yearly change in the CPI-U from 1995 to 2025. U.S. Bureau of Labor Statistics, CPI data
College costs: average total cost of attendance for 2025–26 (tuition and fees, housing, food, books and other expenses). College Board, Trends in College Pricing