Life Insurance Needs Calculator

Part 1 — What your family would need

Final expenses (funeral, burial, final medical bills)

Remaining mortgage balance

Other debts (car loans, credit cards, student loans)

Income replacement

Your annual income to replace

Number of years to replace it

years

Income replacement need (income × years)$0

Children's future education fund

Emergency / readjustment fund

(A) Total Needs$0

Savings and investments

Existing life insurance (group + personal)

Other assets you'd use (home equity, etc.)

Expected survivor benefits (e.g., Social Security)

(B) Total Resources$0

Part 3 — Your coverage gap

Total needs (A)

Total resources (B)

A common rule of thumb is 10 to 15 times your annual income. Treat it as a starting point, not a final answer.

Annual income

Ballpark range (10× to 15×)$0 — $0

This worksheet is for educational planning only and is not financial or insurance advice.