Free needs calculator

How much life insurance
do you actually need?

Most "rules of thumb" are guesses. This runs a real capital-needs analysis — and shows how your need changes over time as your mortgage, income, and kids do.

How much life insurance do you actually need?

Most calculators hand you "10× your income" and call it a day. That's a guess. The number above comes from a real capital-needs analysis — the same framework a fee-only financial planner uses — then adjusted for what you already have.

How this calculator works

1
It adds up what your family would actually need — replacing your income, paying off the mortgage and debts, covering final expenses, and funding the kids' education.
2
It subtracts what's already covered — your savings, any existing policies, a working spouse's income, and an estimate of Social Security survivor benefits. That's why it can tell you when you don't need coverage.
3
It shows how your need shrinks over time — as the mortgage pays down and the kids grow up — so you buy the right amount for the right number of years instead of overpaying.

Common questions

Is "10× my income" enough?

Sometimes — but it's a coincidence when it is. Ten times income ignores your mortgage, your kids' ages, what your spouse earns, and what you've already saved. Two families with the same paycheck can need very different amounts.

Do I need life insurance if I'm single with no kids?

Usually not. Life insurance replaces income for people who depend on it — if no one relies on yours, you likely don't need a policy (beyond maybe covering a co-signed debt). This calculator will tell you that instead of selling you something you don't need.

Does my spouse's income change the number?

It can. If you have children, you generally need to replace your full income regardless — raising kids on one income is hard. If you're a couple without kids and you both earn, the survivor is largely self-sufficient, so the need is much smaller.

How much do I need for a family with two kids?

Enough to clear the mortgage, fund a few years of college per child, cover final costs, and replace your income (net of Social Security and your spouse's earnings) until you'd have retired anyway. Run your own numbers above — it only takes a minute.

Term or whole life?

For a temporary need — a mortgage, raising kids, the years before you're self-insured — term is almost always the right tool, and it costs a fraction of the price. More on term life ›

Ready to see what it costs?

Got your number? Compare real prices from top-rated carriers and apply online — with a licensed agent on standby only if you want one.

Term life basics See rates Shop on your own