Estimate how much coverage your family needs in under 2 minutes
Most people guess at a life insurance number — or worse, buy whatever a salesperson suggests. This calculator uses the same needs-analysis framework financial planners use to give you a personalized coverage estimate based on your actual situation. Fill in what you know, adjust as you go, and use the result as your starting point when comparing providers.
About you
$
$
Your debts & obligations
$
$
$
What you already have
$
$
Recommended coverage
$1,500,000
Suggested term length
20 years
Est. monthly premium*
~$40–$65
How we calculated this
Income replacement$1,700,000
Mortgage payoff$320,000
Other debts$25,000
Education funding$200,000
Final expenses buffer$20,000
Existing insurance & savings−$50,000
Total recommended coverage$1,285,000 → round to $1,500,000
Based on your inputs, a 20-year term policy makes sense — covering the years until your children are financially independent and your mortgage is winding down.
*Premium estimates are for healthy non-smoking adults and are illustrative only. Actual rates vary by age, health, and carrier. This calculator is provided for educational purposes only and does not constitute insurance advice or a binding quote. TermLifeInsurance.com is an independent comparison and review site. Our content is prepared by insurance professionals and is intended for educational purposes only. Always get a formal quote directly from a licensed provider before making any coverage decision.
Advertiser Disclosure: TermLifeInsurance.com is an independent publisher and comparison service. We may earn a referral fee when you click on a provider link or purchase a policy through this site. That compensation can influence which products we write about and where they appear on the page, but it does not affect the integrity of our reviews or ratings. Our editorial assessments reflect our own analysis and are not reviewed, approved, or endorsed by any insurer. Life insurance coverage, pricing, and availability vary by state and individual circumstances — always review policy details directly with the carrier before purchasing.
