Life insurance needs calculator
This tool estimates a coverage amount with a simplified educational model. It does not quote premiums or recommend an insurer or policy.
Formula: income replacement + debts + education + final expenses − savings − existing coverage.
Assumptions
- Coverage need = income replacement + debts + education + final expenses − savings − existing coverage.
- Income replacement is current annual income times the number of years you enter. It ignores taxes, inflation and investment returns.
- Dependents do not automatically multiply the result. Use education funding and replacement years to reflect family needs.
- Group life insurance that ends with a job is still subtracted if you enter it — consider whether that coverage is durable.
How to use the breakdown
The result is an arithmetic remainder, not a “right” amount. Permanent vs term product choice, health underwriting and budget sit outside this model.
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Frequently asked questions
Does a $0 result mean I need no insurance?
It only means the numbers you entered already offset the goals you typed. It is not advice to go without coverage.
Will you recommend a company?
No. InsureGuide does not sell life insurance or rank carriers.
This website provides general educational information and estimates. It is not an insurance company, insurance agent, broker, financial adviser, attorney, or other licensed professional. Calculator results are illustrative and should not be considered insurance quotes or professional advice.