Life Insurance Coverage Calculator

Estimate your recommended life insurance coverage based on income replacement, debts, and family needs.

Income Replacement

Annual Income ($)

Years of Income to Replace

Debts & Obligations

Mortgage Balance ($)

Other Debts (car loans, credit cards, etc.) ($)

Future Expenses

Children's Education Fund ($)

Final Expenses (funeral, medical, legal) ($)

Emergency Fund for Family ($)

Existing Coverage

Existing Life Insurance ($)

Liquid Savings & Investments ($)

Recommended Coverage

Recommended Coverage Amount

Needs Breakdown:

Income Replacement: -

Mortgage Payoff: -

Other Debts: -

Education Fund: -

Final Expenses: -

Emergency Fund: -

Total Needs: -

Minus Existing Resources:

Existing Insurance: -

Savings & Investments: -

Total Resources: -

Coverage Multiple:

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Coverage Guidelines

Common Rules of Thumb:
• 10-12x annual income
• DIME method (Debt + Income + Mortgage + Education)

Consider:
• Spouse's income and coverage
• Number and ages of dependents
• Future income growth
• Inflation over coverage period

Consult a licensed insurance professional for personalized advice.

? Frequently Asked Questions

How accurate is this

This calculator uses standard formulas and provides accurate results for typical use cases. For professional or critical applications, always verify results with certified professionals or official sources.

Is this calculator free to use?

Yes, this Coverage Calculator is completely free to use with no registration required. You can use it as many times as needed without any limitations.

Can I use this on mobile devices?

Absolutely! This calculator is fully responsive and works perfectly on smartphones, tablets, and desktop computers.

How do I interpret the results?

The results are displayed clearly with appropriate units. Refer to the About This Calculator section for detailed information.