How much life insurance do you need?

Estimate the coverage your family would need to maintain their standard of living, pay off debts, cover final expenses, and fund future goals. Enter your information below — results update in real time.

Coverage Assumptions

Set the time horizon and market expectations for the analysis.

Current life insurance coverage

Years insurance must last

Inflation rate

Return on investments

Income tax rate (applies to investment income)

Available Assets

Assets your family could use to cover expenses.

Cash & savings

Home equity (available)

Investments

Other assets

Immediate Expenses at Death

One-time costs that need to be paid from the insurance proceeds.

Funeral costs

Uninsured medical costs

Estate / inheritance taxes

Probate costs

Debt repayment (mortgage, loans, cards)

College fund for children

Other one-time expenses

Monthly Needs — Children at Home Phase 1

Family expenses and income while children are still at home (today's dollars).

Years children at home

Monthly living expenses

Monthly income (spouse, SS, other)

Monthly Needs — Children Have Left Home Phase 2

Family expenses and income after children leave home.

Monthly living expenses

Monthly income (spouse, SS, other)

Disclaimer. This calculator is provided by MCAP (Money Concepts Advanced Planning Unit) as a self-help planning tool for informational purposes only. It is hypothetical, illustrative, and not a substitute for personalized advice from a qualified financial professional. Actual insurance needs depend on factors not captured here, including health, tax situation, employer benefits, and family circumstances. Securities offered through Money Concepts Capital Corp., Member FINRA / SIPC.