Life Insurance Calculator
Estimate how much life insurance coverage you need. Enter your annual income, years of protection desired, existing coverage, outstanding debts, and final expenses to calculate the recommended coverage amount and identify any coverage gap.
Life Insurance Calculator
FAQ
How much life insurance do I need?
A common rule of thumb is 10-15 times your annual income, but the actual amount depends on your debts, number of dependents, existing savings, and future obligations like college tuition or mortgage payments.
What is a coverage gap?
A coverage gap is the difference between your total insurance needs and your existing coverage. If your total needs are $1 million and you currently have $300,000 in coverage, your gap is $700,000.
What are final expenses?
Final expenses include funeral costs, medical bills, legal fees, and other end-of-life costs. The average funeral in the US costs $7,000-$12,000, and total final expenses typically range from $15,000-$30,000.