Life Insurance Calculator

Find out if your current coverage is enough to protect your dependents' financial future

Coverage Needed
$1.1M
total life insurance needed
Coverage Gap
$933K
additional coverage needed
Income Replacement
$798K
PV of 20 yrs at 80%
Est. Monthly Premium
$233
for $933K extra coverage
Your Details
35 yrs
yrs
$80K
80%
%
20 yrs
yrs
5%
%
Debts & Obligations
$250K
$20K
$15K
Dependents & Assets
2
$50K
$50K
$200K
Coverage Need Over Time

How your insurance need decreases as debts are paid and income replacement shrinks

Coverage Needs Breakdown
Income replacement (20 yrs @ 80%)$797,581
Mortgage balance$250,000
Other debts$20,000
Education fund (2 children)$100,000
Final expenses$15,000
Less: existing assets− $50,000
Total Coverage Needed$1,132,581
Your existing coverage− $200,000
Coverage Gap-$932,581
You May Be Underinsured

Based on your inputs, you have a coverage gap of $932,581. Consider purchasing additional term life insurance to close this gap.

The estimated monthly premium for a 20-year term policy to cover the gap is approximately $233/month (rough estimate — actual rates vary by health and insurer).

Coverage Ratio
18%
of total need covered
Rule of Thumb
$800K
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