Calculate how much life insurance coverage your family may need based on your income, debts, dependents, and future expenses.
Coverage for a fixed period (10–30 yrs) at a lower cost.
Lifetime coverage that also builds cash value.
The person(s) who receive the payout.
The lump sum paid out to your beneficiaries.
Age 28, no dependents, some debt.
$250K–$400KAge 35, mortgage, one income.
$750K–$1MAge 55, mortgage nearly paid off.
$150K–$300KA common starting point is 10–15× your annual income, adjusted for debts, dependents, and existing savings — which is exactly what this calculator estimates.
Term life is cheaper and covers a set period, ideal for income-replacement years. Whole life costs more but lasts a lifetime and builds cash value.
If no one depends on your income, coverage needs are usually lower — often just enough to cover debts and funeral costs.
Yes, significantly. Smokers often pay 2–3× more than non-smokers for the same coverage.
Most term policies allow you to buy additional riders or a new policy, but adjusting an existing policy directly is usually not possible.
Life insurance isn't legally required, but mortgage lenders often require coverage tied to the loan. Term life is medically underwritten unless you choose a no-exam policy, and premiums vary significantly by state.
This calculator provides educational estimates only. It does not guarantee eligibility or pricing. Actual premiums and coverage vary by insurer, location, and underwriting.
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